Kodak board elects Laura Quatela as president, alongside Philip Faraci

December 23, 2011 By Gary Pageau

Laura Quatela, Kodak

Eastman Kodak Co., Rochester, N.Y., announced its board of directors has elected Laura Quatela as President, effective Jan. 1, 2012. Quatela, 54, who is currently the company’s general counsel, will serve alongside Philip Faraci, who continues as President, a position he has held since September 2007. Both report to Antonio M. Perez, chairman and CEO.

“Laura’s election reflects her increasing role in the company, including the strategic importance of the intellectual property business,” says Perez.

Additionally, Patrick Sheller, the company’s deputy general counsel, Corporate Secretary and chief compliance officer, will succeed Quatela as General Counsel. As General Counsel, he will report to Perez and will continue to serve as Secretary to the board of directors.

In other Kodak news, the company agreed to sell its Eastman Gelatine Corp. business to Rousselot, part of the Vion Food Group. Financial details were not disclosed. Subject to customary closing conditions, the transaction is expected to close within 30 days. About 95 Eastman Gel employees associated with the business will continue with the business following the closing. Included in the sale is 575,000 square foot of production space in Peabody, Mass.

Eastman Gel was successfully managing the transition of the photographic market by increasingly expanding its sales into non-photographic categories, such as the pharmaceutical, edible protein and food/confectionary categories, the company said.

“Eastman Gelatine is a business that is well-positioned in this industry,” says Brad W. Kruchten, president, Film, Photofinishing and Entertainment Group, and Kodak Senior Vice President. “This sale is another step in our value creation program for our shareholders and enhances Kodak’s financial position.