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ROCHESTER, N.Y. (AP) - Kodak is providing a clearer picture of its post-reorganization management plans, saying that CEO Antonio Perez will likely be replaced in the first year after it emerges from bankruptcy protection.
The photography pioneer filed for Chapter 11 bankruptcy protection in early 2012. Since then, the Rochester, N.Y., company has sold off several businesses and said it would shut others so it can concentrate on commercial and packaging printing.
Eastman Kodak Co. said in a filing late Tuesday that Perez will stay on as CEO for up to a year or until a successor is named. He will help with the CEO selection and transition processes
Once a successor is named, he will resign and remain as an adviser until the anniversary of Kodak's exit from bankruptcy. He will serve as a consultant for up to another two years.
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