Eastman Kodak has tapped Orbitz chairman Jeffrey Clarke as its new CEO, taking over from Antonio Perez.
The photography and film pioneer, which emerged from bankruptcy in September, said on Wednesday that Perez will remain as a special adviser to its board.
He had served as CEO since 2005.
The 52-year old Clarke will continue as chairman of online travel company Orbitz Worldwide.
He is the co-founder of private investment firm Augusta Columbia Capital and served as a managing partner there.
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Clarke will also become a member of the board of directors at Eastman Kodak Co.
Shares of Kodak, based in Rochester, fell 84 cents, or 3.1 per cent, to $US26.39 in morning trading.
Its shares had fallen more than 24 per cent through Tuesday since the start of the year.
