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Kodak Realigns Management

Rochester, N.Y. — Kodak will create a Chief Operating Office as it looks to push forward its latest realignment.

Two executives will lead the new office: Philip Faraci, consumer digital imaging group president, and James Langley, graphic communications group president. They will retain responsibility for managing their respective business groups.

The company also announced that its chief marketing officer Carl Gustin would retire effective July 1. Marketing functions will no longer be centralized in a CMO office but be distributed throughout the company’s business units. Jeff Jacobson, graphic communications group COO, will leave the company effective April 1.

According to a statement released by Kodak, Faraci and Langley will be “jointly accountable for achieving this year the strategic objective of significantly reducing administrative costs and positioning Kodak for profitable growth in 2008. They will put in place the structures and processes needed to achieve a greater streamlining of management, deeper cost reductions, and greater leverage across the digital businesses to drive revenue growth.”

The goal, said CEO Antonio Perez, is to create “a leaner management structure that will speed decision-making, reduce cost, and help accelerate the company’s profitable growth.”

As head of the consumer imaging group, Faraci spear-headed Kodak’s recent push into the consumer photo inkjet market.

In February, Kodak announced additional layoffs as part of a broad effort to transform the company for the digital era.