Former Kodak Chief Daniel Carp to become Chariman of Delta Air Lines
Press release from the issuing company
ATLANTA, March 30, 2007– Delta Air Lines today announced that 10 individuals have been selected to serve, along with Delta Chief Executive Officer Gerald Grinstein, on a newly constituted board of directors when the company emerges from Chapter 11. The chairman of the board will be Daniel A. Carp, continuing Delta's current governance practice of having a non-Delta executive as chairman of the board of directors.
Under the terms of the Plan of Reorganization and Disclosure Statement filed with the U.S. Bankruptcy Court, the new board of directors will consist of 11 members, including Delta’s Chief Executive Officer. Delta and The Official Committee of Unsecured Creditors agreed that the Committee, in consultation with Delta, would select the other 10 members of the post-emergence board.
Daniel A. Carp was Chairman and Chief Executive Officer of the Eastman Kodak Company from 2001 until his retirement in 2005. For more than 30 years, Mr. Carp held various positions of increasing responsibility at Eastman Kodak. He currently serves as a director of Liz Claiborne Inc., Norfolk Southern Corporation and Texas Instruments Inc.
“We’re pleased to welcome this new board to Delta,” said Gerald Grinstein, Delta’s Chief Executive Officer. “We are fortunate to have such a distinguished group of individuals serving on our Board. They represent some of the finest leaders in the business community today, possessing a broad range of talents and expertise and the highest level of commitment to integrity and ethics. We appreciate their interest in serving on our board and we look forward to benefiting from their guidance as Delta enters into a new and prosperous chapter in its history.
“I’d also like to thank Delta’s current board of directors for their service to Delta. Their contribution was critical to Delta’s transformation, guiding us from bankruptcy to our emergence as a strong and dynamic company. The dedication, judgment and expertise of these individuals was critical to that process and I’m sure that I join all of Delta’s other stakeholders in expressing gratitude for their tireless efforts,” continued Grinstein.
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