Rochester N.Y.-Kodak last night announced plans to clear the way for CEO Antonio Perez to eventually resign.
Kodak's says after the company emerges from bankruptcy in September , Perez will serve as CEO for up to one year , or until the Board of Directors elects his replacement - whichever is sooner.
Perez, 66, plans to be involved in the selection of Kodak’s new CEO.
Once his successor is chosen, Perez will work with them for a one-year transition period.
From there, Perez has agreed to serve in a consulting role for the company for an additional two years.Perez joined Kodak as President and CEO in 2003.