October 12, 2010 / 4:02 PM / 9 years ago

UPDATE 2-Tyco Int'l hires CFO away from Kodak

* New Tyco CFO Frank Sklarsky comes from Kodak

* Antoinette McCorvey, 11-year Kodak veteran to be new CFO

* Fitch downgrades Kodak’s outlook to negative (Adds name of new Kodak CFO, background)

NEW YORK, Oct 12 (Reuters) - Tyco International Ltd TYC.N named Eastman Kodak Co’s EK.N chief financial officer Frank Sklarsky as its CFO, effective Dec. 1, succeeding Christopher Coughlin, who will retire.

Antoinette McCorvey will replace Sklarsky as CFO at Kodak, known for its dominance in the shrinking photographic film market and now focusing on printing and services.

Sklarsky, 53, has been Kodak’s chief financial officer for the past four years and was previously finance chief for ConAgra Foods Inc (CAG.N).

Kodak’s new CFO, McCorvey, 53, is an 11-year Kodak veteran who recently served as the company’s director of investor relations.

Fitch Ratings revised Eastman Kodak’s outlook on Tuesday to negative from stable, citing Kodak’s continued struggles to gain traction in its digital business as declines quicken in the traditional film business.

Tyco, the security products provider, said Coughlin, 58, who has been Tyco chief financial officer since 2005, will advise the company on some projects until his retirement in 2011.

Tyco shares were flat at $37.25 in New York Stock Exchange trading while Kodak shares were trading 1.9 percent higher at $4.28. (Reporting by Liana Baker and Karen Jacobs; Editing by Derek Caney)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below