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November 7
CEO Appointed for New Kodak Polychrome Graphics Joint Venture
Eastman Kodak and Sun Chemical Corporation announced the appointment of Mark W. Stewart, 46, as Chief Executive Officer of Kodak Polychrome Graphics, the new joint venture company formed by Kodak and Sun Chemical. Owned equally by Kodak and Sun, Kodak Polychrome Graphics will be a global graphic arts supply company positioned to supply over $1 billion inm products and services to the market.
Stewart was most recently Director of Finance and Vice President for Kodak Professional, Kodak's second largest global business, and has served as Senior Vice President of Qualex, a Kodak subsidiary and the largest wholesale photofinisher in the U.S. He received his MBA in Finance from Harvard Business School and his BS in Abstract Mathematics from Dickinson College in Carlisle, Pennsylvania.
Stewart announced the appointment of several senior management positions. Robert W. Hallman, Polychrome President and CEO, and Dr. Michael J. Simmonds, General Manager, Graphics Systems Markets and Vice President, Kodak Professional Division, were each named Kodak Polychrome Graphics Senior Vice Presidents. Reporting to Hallman will be Gottfried Kaps as Vice President, Worldwide Manufacturing; Thomas Saggiomo as Vice President, Worldwide Marketing, and Ken Shimazu as Vice President, Corporate Research & Development. The functions reporting to Simmonds will include film products, proofing products and digital systems. Additionally, as the two companies come together, Simmonds will be acting President of Kodak Polychrome Graphics U.S. and Canada.
Also named to senior management positions are Patrick Berard as President, Kodak Polychrome Graphics Europe; Licio Minvielle as President, Kodak Polychrome Latin America; and Robert J. Nobile as Vice President and Chief Financial Officer. Each of them will report directly to Stewart.
Stewart will report to a Board of Directors made up of three directors from Kodak and three from Sun Chemical. The directors are: Kodak's Patrick T. Siewert, President, Kodak Professional Division and Vice President, Eastman Kodak Company; Jessie J. Greene Jr., Treasurer and Director, Busiens Development and Vice President, Eastman Kodak Company; James C. Stoffel, Director, Electronic Imaging Products, Research & Development; and Sun Chemical's Edward E. Barr, Chairman and CEO; Biagio N. Bignolo, Senior Vice President and Chief Financial Officer; Wiliam H. Saltzman, Senior Vice President, Corporate Development. Barr will be Chairman of the Board for 1998 with Siewert becoming Chairman for 1999. The chairmanship will alternate each year between Kodak and Sun Chemical.
Until formal operations for Kodak Polychrome Graphics begin,
information on graphics solutions from Kodak Professional may be obtained
by calling 1-800-242-2424 or by accessing http://www.kodak.com/go/professional.
For information on products and service from Sun Chemical's Polychrome division,
customers may call 1-201-346-8800 or contact Sun Chemical on-line at http://www.sunchemical.com
Excerpt from joint Kodak and Sun Chemical press release.