Kodak announces new business structure
ROCHESTER, N.Y. — Kodak is looking to transform into a digital enterprise by going back to basics.
The company, which has been the subject of focus in the bankruptcy rumor mill, said it has implemented a new business structure that will increase productivity, reduce cost and allow it to deliver sustainable profitability and value to stakeholders. As part of the changes, Kodak has consolidated three units into two, which now are called the commercial segment and the consumer segment.
The commercial segment includes the company’s graphic communications group, which provides digital printing equipment, consumables and software to the publishing and commercial printing industries, along with its entertainment imaging and commercial film lines. Meanwhile, the consumer segment includes the consumer digital imaging group, which helps consumers capture and print images, as well as paper and output systems, event imaging solutions, the consumer film and the intellectual property business.
Both segments will report to the newly created chief operating office, led by Philip Faraci and Laura Quatela, who will both serve as president and COO. Faraci will focus on the commercial segment, while Quatela will focus on the consumer segment. Both individuals will report to Kodak chairman and CEO Antonio Perez.
Additional related executive appointments can be found here.
“As we complete Kodak’s transformation to a digital company, our future markets will be very different from our past, and we need to organize ourselves in keeping with that evolution,” Perez said. “This new structure simplifies the organization, focuses it more precisely on our consumer and commercial customers, and puts the right people in place to capitalize fully on the tremendous technological capabilities of Kodak. These business structure changes also allow us to allocate resources more productively, continue to significantly reduce administrative costs, and improve efficiency. We are confident that these changes will support our efforts to make the most of our opportunities.”
The business structure announcement is in line with the company’s showcase of its upcoming products, including cameras and printers, at the Consumer Electronics Show in Las Vegas.
Weis Markets announces eighth ’90-day Price Freeze’ program
SUNBURY, Pa. — Weis Markets on Monday announced it has lowered the prices on 1,700 staple items and that it will freeze the prices of these products for 90 days through April 2, marking the company’s eighth 90-day Price Freeze since 2009.
“Our 90 Day Price Freeze program continues to make sense, particularly with food inflation being a factor in a number of key categories,” stated Kurt Schertle, Weis Markets SVP sales and merchandising. “We’ve been able to minimize its impact through special long term buys that will result in real savings for our customers. Our prize freeze savings are significant. Over the past three years, our Price Freeze program has collectively saved our customers more than $35 million.”
Weis Markets’ current Price Freeze program includes 1,700 brand-name and private-label products in grocery, frozen, dairy, meat, health, beauty care and general merchandise.
The current Price Freeze premiered in Weis Markets’ Jan. 8 circular, radio and billboard advertisements. In stores, customers will see Price Freeze signage and shelf tags for participating items.
Duracell Powermat debuts new products
LAS VEGAS — The joint venture of Duracell and Powermat Technologies has announced its new product lineup.
Duracell Powermat, which formed back in September, said the new line of Duracell Powermat products provides consumers with "unparalleled access" to power in a two-part system that pairs newly designed charging mats — in either black or white — with receivers and a portable wirelessly charged backup battery that lets consumers take power with them for up to a full charge while on the go, Duracell Powermat said. The new Duracell Powermat complete charging kit also will be available in first quarter 2012 to provide consumers with a one-stop option for wireless power.
Also new from the company is the Duracell Powermat application, which will identify users when their smartphones are running low on power and notify them about how much power they have left before directing them to the nearest networked location.
The products will be showcased at the Consumer Electronics Show in Las Vegas this week.
In related news, Duracell Powermat also announced that Grammy award winner Shawn “Jay Z” Carter has signed a multi-year global agreement with the company as an investment partner. He also will be the spokesman of the Duracell Powermat JV.
"We are proud to work with such an inspiring icon, whose music and success speaks to an entire generation all over the world. Our common vision and voice will pave the way for the upcoming wireless power revolution," Duracell Powermat CEO Ron Rabinowitz said.