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Eastman Kodak names Clarke as new CEO

Wednesday - 3/12/2014, 12:48pm  ET

ROCHESTER, N.Y. (AP) -- 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 Wednesday that Perez will remain as a special adviser to its board. Perez, 68, had served as CEO since 2005.

Clarke will continue as chairman of online travel company Orbitz Worldwide Inc. The 52-year-old Clarke is the co-founder of private investment firm Augusta Columbia Capital and served as a managing partner there.

Clarke will also become a member of the board of directors at Eastman Kodak Co.

Shares of Kodak, based in Rochester, N.Y., fell 73 cents, or 2.7 percent, to $26.50 in morning trading. Its shares had fallen more than 24 percent so far this year through Tuesday.

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