Patricia Russo Resigns as President of Kodak, Takes CEO Job at Lucent
Press release from the issuing company
ROCHESTER, N.Y.--Jan. 7, 2002--Eastman Kodak Company announced that Patricia F. Russo has resigned as president and chief operating officer, effective immediately, to become the chief executive officer of Lucent Technologies Inc.
Kodak Chairman and Chief Executive Officer Daniel A. Carp will re-assume the responsibilities of president and COO.
"Pat made a strong contribution during her nine months at Kodak,'' Carp said. "She and I developed a new operating model that will help accelerate performance improvements across all our businesses. I remain focused on successfully implementing that model and generating increased value for all shareholders.
"We have a strong management team and our new operating model gives increased accountability to senior leadership,'' Carp said. "Of course, we will continue to strengthen our management, and over the next several months we will conduct a search for an executive to join the senior management team.''
Before joining Kodak in April, Russo, 49, spent 20 years in the telecommunications industry, holding management positions at Lucent and AT&T Corporation.
"I joined Kodak because it is a company that has the talent and the assets to extend its lead as the world's premier imaging company,'' Russo said. "I leave the company more convinced than ever that Kodak will be successful in that endeavor.
"I have a long-standing interest in the telecommunications industry, and I am delighted to have the opportunity to rejoin the leading player in that industry - a company with which I previously spent 20 years.''
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