Kodak Names Faraci President, COO

Eastman Kodak’s board of directors has promoted Philip J. Faraci to President and Chief Operating Officer, responsible for the day-to-day management of Kodak’s two major digital businesses: the Consumer Digital Imaging Group (CDG) and the Graphic Communications Group (GCG). Faraci, 52, had been President of CDG and a Senior Vice President of the company.

He assumes responsibility for GCG from James T. Langley, 57, who remains a Senior Vice President until his departure at the end of the year. Since the company is eliminating the position of president for both CDG and GCG, Langley will leave Kodak once he completes the transition of his responsibilities for GCG.

Kodak’s major traditional business, the Film Products Group (FPG), will continue to report to Perez under the leadership of Mary Jane Hellyar, President, FPG, and a Senior Vice President of the company.

The changes are part of Kodak’s larger effort to create an organization geared for sustained, profitable growth in digital markets. As Kodak nears the conclusion of its four-year restructuring effort, these moves position the company for the next phase of its transformation, during which it will build bigger digital businesses and continue the effective management of its traditional business.