Posted at: 07/30/2013 9:37 PM
Updated at: 07/30/2013 10:55 PM
Eastman Kodak has named the leadership team it plans to put in charge when the company exits Chapter 11 bankruptcy protection. Under the plan, Kodak says Antonio Perez will stay on as CEO for one year or until a successor is chosen whichever is sooner.
When his successor is appointed, Kodak says Perez would stay on to work with the new CEO and serve as a full-time special advisor to the Board of Directors.
The plan still needs approval as part of the company's reorganization plan. The company says a confirmation hearing is scheduled for August 20.
Kodak says it's expecting to emerge from Chapter 11 restructuring sometime in the third quarter.