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Kodak Hires ConAgra Food’s CFO

Frank Sklarsky brings 26 years of corporate finance experience to the role.
Sarah JohnsonOctober 3, 2006

Eastman Kodak has hired Frank Sklarsky, 49, as chief financial officer to replace Robert Brust, who is retiring in February. Sklarsky ended his two-year stint as ConAgra Foods’ CFO on Tuesday.

Sklarsky will report to work at Kodak on October 30 as executive vice president and assume the CFO title on November 13, when the company will file its third-quarter 10-Q with the Securities and Exchange Commission, according to a Kodak press release. Sklarsky, who will report to Chairman and CEO Antonio Perez, is slated to earn an annual salary of $600,000, in addition to shares of Kodak’s restricted stock and bonuses.

At $14 billion ConAgra, a packaged food company whose brands include Chef Boyardee, Healthy Choice, and Hebrew National, Sklarsky helped expand profit margins and implemented a new financial organization. “While Frank was here, we were able to develop significant bench strength on our finance team, which will ensure a smooth leadership transition,” said ConAgra CEO Gary Rodkin in a statement.

Before joining ConAgra in 2004, Sklarsky held senior financial executive positions at DaimlerChrysler and Dell. He also served as a senior accountant for three years at Ernst & Young International. A 1978 graduate of the Rochester Institute of Technology, Sklarsky received an MBA from Harvard Business School in 1983.

Kodak is currently going through a “historic transformation” as it expands its business into the digital market, according to Perez. Sklarsky “understands the challenges of large, complex companies that are going through great change, and he also understands the speed and urgency demanded by digital markets,” Perez said in a statement.

Kodak also announced today that it has delayed its annual investor strategy review meeting by nearly three months to next February. The rescheduling “will permit Mr. Sklarsky time to have a meaningful input on the company’s strategic outlook,” according to a press release.

Before his retirement on February 1, Brust, 63, will keep the title of executive vice president and help Sklarsky during his transition to CFO. He joined Kodak in 2000.

While ConAgra searches for Sklarsky’s replacement, John Gehring, senior vice president and controller, will fill in as acting CFO, effective on Wednesday. Gehring has worked at the company since 2002 and has also held the position of vice president of internal audit.

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