Quatela Announces Intention To Leave Kodak's Consumer Segment Following Completion Of Transfer Of Businesses To U.K. Pension Plan
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.”
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