Kodak names new CEO

Kodak Co. announced Wednesday it hired Jeffrey J. Clarke, effective immediately, to replace Antonio M. Perez, who had been at the helm of Kodak since 2005. Perez had announced in July that he would be leaving the company within a year, according to USA Today.

"My marching orders are that Kodak is in a position now where its balance sheet, its legacy costs are behind it," Clarke said Wednesday, his first day on the job. "I've been asked by the board to drive growth of the company. The mandate for the new CEO is growth."

Clarke, 52, is managing partner of Augusta Columbia Capital, a New York investment firm specializing in technology companies. Prior to that, he was chairman of Travelport Inc., a travel technology firm.

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