Meet Kodak's new president

Philip J. Faraci is promoted to president and chief operating officer of Kodak after less than three years with the company.

Faraci (pictured) first joined Kodak as director of its inkjet sales program in December 2004 and eventually became senior vice president in 2005. Now, as president and COO his duties will be far more demanding as he looks after the day-to-day management and operating activities of Kodak's two major digital businesses: the Consumer Digital Imaging Group and the Graphic Communications Group.

"I am honoured to be given the responsibility of helping to lead Kodak through the next stage of its exciting future," he said. "My mission is to make the most of the digital opportunity, and I know we will succeed by leveraging the assets of our consumer and commercial businesses."

Faraci will report to Kodak company chairman and chief executive officer Antonio Perez, who congratulated him on the appointment. "Phil has made enormous contributions to the progress of Kodak's digital transformation," Perez said.

"The leadership that Phil has exhibited makes him well suited to take on additional responsibilities. I am confident that these businesses will reach new heights under Phil's leadership."