Quatela Announces Intention to Leave Kodak's Consumer Segment Following Completion of Transfer of Businesses to U.K. Pension

  Quatela Announces Intention to Leave Kodak's Consumer Segment Following
  Completion of Transfer of Businesses to U.K. Pension Plan

Business Wire

ROCHESTER, N.Y. -- June 27, 2013

Laura G. Quatela, Kodak President and President of Personalized Imaging (PI),
has announced her intention to leave Kodak’s consumer segment after the
completion of the spin-off of the PI and Document Imaging (DI) businesses to
Kodak Pension Plan, the pension plan for U.K. employees.

“To help accomplish Kodak's objectives in its Chapter 11 restructuring, we
asked Kodak President Laura Quatela to serve as the business leader
responsible for the sale of non-strategic assets and to directly manage the
consumer businesses until their transfer to new ownership. Now that this work
is nearly complete, Laura is considering what her next challenge will be,
while wanting to provide the future owner, KPP, the opportunity to select the
senior executive who will carry the Personalized Imaging and Document Imaging
businesses forward,” Antonio M. Perez, Kodak Chairman and Chief Executive
Officer, said in a memo to employees.

“Laura will continue to manage the Personalized Imaging business and
transaction-related issues through the ownership transition, currently
targeted for September.

“Laura has made a tremendous contribution to Kodak, spearheading a $3 billion
IP monetization program; facilitating key business successes for Personalized
Imaging – including an important flagship deal with CVS – during Kodak's
restructuring; formulating PI's strategic plan and vision for growth
post-sale, including negotiating the right for the PI and DI businesses to
continue to use the iconic Kodak brand and trade name; and, perhaps most
importantly, delivering a secure future for PI and DI with an owner who
clearly recognizes the value of the businesses and intends to help them grow
and succeed.

“We are extremely grateful to Laura. Her talent has been critical to Kodak's
restructuring progress, and Personalized Imaging has been positioned for
success under her leadership.”

“I am proud of the tremendous progress we have made during our restructuring,
and how our consumer-facing businesses have been positioned to thrive, under
new ownership, still with iconic Kodak branding,” said Quatela. “I look
forward to completing the work of transitioning the businesses, and then
turning to new challenges. I carry deep admiration for the business teams I
have worked with, and wish them every success under KPP ownership.”

CAUTIONARY STATEMENT PURSUANT TO SAFE HARBOR PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995

This document includes “forward-looking statements” as that term is defined
under the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning the Company’s plans, objectives,
goals, strategies, future events, future revenue or performance, capital
expenditures, liquidity, financing needs, business trends, and other
information that is not historical information. When used in this document,
the words “estimates,” “expects,” “anticipates,” “projects,” “plans,”
“intends,” “believes,” “predicts,” “forecasts,” or future or conditional
verbs, such as “will,” “should,” “could,” or “may,” and variations of such
words or similar expressions are intended to identify forward-looking
statements. All forward-looking statements, including, without limitation,
management’s examination of historical operating trends and data are based
upon the Company’s expectations and various assumptions. Future events or
results may differ from those anticipated or expressed in these
forward-looking statements. Important factors that could cause actual events
or results to differ materially from these forward-looking statements include,
among others, the risks and uncertainties described in more detail in the
Company’s most recent Annual Report on Form 10-K for the year ended December
31, 2012, under the headings “Business,” “Risk Factors,” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations–Liquidity and Capital Resources,” and those described in filings
made by the Company with the U.S. Bankruptcy Court for the Southern District
of New York and in other filings the Company makes with the SEC from time to
time, as well as the following: the Company’s ability to successfully emerge
from Chapter 11 as a profitable sustainable company; the ability of the
Company and its subsidiaries to develop, secure approval of and consummate one
or more plans of reorganization with respect to the Chapter 11 cases; the
Company’s ability to improve its operating structure, financial results and
profitability; the ability of the Company to achieve cash forecasts, financial
projections, and projected growth; our ability to raise sufficient proceeds
from the sale of businesses and non-core assets; the businesses the Company
expects to emerge from Chapter 11; the ability of the company to discontinue
certain businesses or operations; the ability of the Company to continue as a
going concern; the Company’s ability to comply with the Earnings Before
Interest, Taxes, Depreciation and Amortization (EBITDA) covenants in its
debtor-in-possession credit agreements; our ability to secure investments and
financing, including satisfying the conditions to our exit financing; the
potential adverse effects of the Chapter 11 proceedings on the Company’s
liquidity, results of operations, brand or business prospects; the outcome of
our intellectual property patent litigation matters; the Company’s ability to
generate or raise cash and maintain a cash balance sufficient to comply with
the minimum liquidity covenants in its debtor-in-possession credit agreements
and to fund continued investments, capital needs, restructuring payments and
service its debt; our ability to fairly resolve legacy liabilities; the
resolution of claims against the Company; the Company’s ability to retain key
executives, managers and employees; the Company’s ability to maintain product
reliability and quality and growth in relevant markets; our ability to
effectively anticipate technology trends and develop and market new products,
solutions and technologies; and the impact of the global economic environment
on the Company. There may be other factors that may cause the Company’s actual
results to differ materially from the forward-looking statements. All
forward-looking statements attributable to the Company or persons acting on
its behalf apply only as of the date of this document, and are expressly
qualified in their entirety by the cautionary statements included in this
report. The Company undertakes no obligation to update or revise
forward-looking statements to reflect events or circumstances that arise after
the date made or to reflect the occurrence of unanticipated events.

2013

Contact:

Media:
Kodak
Christopher Veronda, +1 585-724-2622
christopher.veronda@kodak.com
 
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