Kodak Promotes Greene To Senior VP For Business Strategy & Information Technology

Business Wire, August 5, 1999

ROCHESTER, N.Y.--(BUSINESS WIRE)--Aug. 5, 1999--

Eastman Kodak Company today announced that Jesse J. Greene, Jr., has been promoted to Senior Vice President of Business Strategy and Information Technology, a newly created position that expands the executive management team. Reporting directly to Dan Carp, who will become Kodak's Chief Executive Officer in January, Greene will have responsibility for the development and implementation of corporate business strategy, mergers and acquisitions, and information technology.

Currently Vice President of Finance, Greene has been serving as acting Chief Financial Officer since May, following the untimely death of CFO Harry Kavetas. Greene will continue in that role, assisting George Fisher and Dan Carp in an external search to fill that position.

Carp said that Kodak's growth strategy demands the existing CFO role be split into two distinct functions: strategic development and its complementary activities, and operational finance.

"Jesse Greene is an excellent strategic thinker and a brilliant deal maker," Carp said. "The three areas of strategy, investment, and information technology are important because they significantly impact our growth initiatives. It is important to the company to have a senior leader focused on these initiatives."

Carp outlined Greene's primary responsibilities in this new role. "First, Kodak needs a structured approach to corporate business strategy," Carp said. "Second, industry consolidation is a growth opportunity as we have demonstrated with our acquisition of Imation's health imaging business, and with the formation of our joint venture Kodak Polychrome Graphics. Third, our information technology activity is entering a significant phase involving the integration and deployment of new systems and software. This will provide support for Kodak's electronic commerce initiatives. Jesse Greene will lead these critical areas in a way that produces the greatest advantage in the shortest period of time."

"I've worked with Jesse for five years," Carp added. "We think alike; I respect his intelligence; and I admire his ability to manage complex strategic issues and business investments."

Greene joined Kodak as Treasurer in 1994, and he was named vice president of Finance in 1998. Prior to joining Kodak, he had a 23-year career with IBM Corporation.

He holds advanced degrees in engineering, law, and business. He received both a Bachelor's degree and a Master's degree in Mechanical Engineering from New York University. In addition, he received both a Juris Doctor from Columbia University School of Law, and a Master's degree in Business Administration from Columbia University Graduate School of Business.

Editor's Note: For additional information about Kodak, visit our web site on the Internet at: www.kodak.com/