Kodak names new head of restructuring effort

[January 24, 2012]  NEW YORK (AP) -- Kodak is naming a new chief restructuring officer just days after filing for Chapter 11 bankruptcy protection.

The iconic company said Monday that James Mesterharm, managing director of AlixPartners LLP, will lead it through its court reorganization. Last week it said Dominic DiNapoli, vice president of FTI Consulting, would lead the effort.

The 132-year-old company is not saying why it made the change. It added that the move "does not reflect any disagreement or difference of opinion."

Kodak says Mesterharm has worked through many other major Chapter 11 cases; including General Growth Properties, Zenith Electronics and Silicon Graphics Inc.

Kodak filed for Chapter 11 bankruptcy protection on Thursday. It expects to complete its U.S.-based restructuring next year.

[Associated Press]

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