Kodak and HP Joint Venture Appoints Management TeamKey Posts in Technology, Finance, Human...

Business Editors/High Tech Writers

SAN DIEGO--(BUSINESS WIRE)--June 6, 2000

The new joint venture between Eastman Kodak Company and Hewlett-Packard Company has appointed executives to lead its technology, financial, human resources and marketing functions.

Effective

immediately, David Clark is chief technology officer and vice president, Richard M. Elkus is chief financial officer, Judy McKelvey is director of human resources, and John Ward is chief marketing officer and vice president. Unveiled at the Photo Marketing Association's PMA 2000 trade show in February, the joint venture will develop lower-cost digital inkjet photofinishing equipment and supplies. Using HP's thermal inkjet technology and Kodak's leading image science, retailers will be able to offer customers a wider range of capabilities for printing both traditional photographic film and digital files.

"In order for the joint venture to move forward quickly, we have assembled a leadership team of seasoned professionals with a breadth of complementary experiences," said co-chief executive officer Fred Hiegold.

"This team has the background and skills needed to deliver on our vision of bringing new options to the exciting digital-imaging marketplace," noted co-chief executive officer William (Bill) J. Lloyd.

The new management staff will be located at the company headquarters in San Diego.

David Clark, chief technology officer

Before his appointment to the joint venture, Clark was director of the Hardcopy and Display Technology Division of Kodak's Electronic Imaging Products, a position he first occupied in 1995. He came to Kodak's Government Systems Division in 1985 to establish an electro-optics laboratory that developed imaging-sensor systems and laser-communications technology.

Clark is a graduate of Ohio State University with a bachelor of science in engineering physics. After five years of service in the U.S. Navy nuclear submarine force, Clark entered the University of Minnesota, where he earned a doctorate in physics. He was on the faculties of Stanford University and the University of Rochester before joining Kodak.

Richard M. Elkus, chief financial officer

A veteran of HP, having joined the company in 1986 as a financial analyst for the Printed Circuit Division (PRCD), Elkus was named financial operations manager for the Inkjet Supplies Business Unit after serving in several financial management positions in PRCD. He was promoted to controller of the All-in-One Division, the position he held before coming to the joint venture.

Elkus has a bachelor of arts in management science from the University of California, San Diego, and a master's degree from the University of Oregon.

Judy McKelvey, director of human resources

A 15-year veteran of HP, McKelvey was most recently the human resources manager for the Inkjet Business Unit. She led the human resources and organizational-development consulting efforts, brokering personnel services from local geographical organizations. Before that, she led HP's U.S.-wide HR Organizational and Development and Employee Relations Consulting Services.

McKelvey holds a bachelor of arts degree in human resources management from Regis University in Colorado.

John Ward, chief marketing officer

As director of marketing for Kodak's Professional Division, Ward led Kodak's efforts to market silver halide and digital products to commercial photographers and photojournalists. He also managed the Kodak Professional reseller channel and held marketing positions focused on the printed circuit board assembly, graphic arts and health-imaging businesses.

Ward holds a master of science in management from Purdue University and a bachelor of science in industrial engineering from Georgia Institute of Technology. He has taught marketing programs at the Rochester Institute of Technology and at Kodak.

About HP

Hewlett-Packard Company--a leading global provider of computing and imaging solutions and services--is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and an Internet infrastructure that's always on.

HP has 86,000 employees worldwide and had total revenue from continuing operations of $42.4 billion in its 1999 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

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About Kodak

Eastman Kodak Company is the leader in both traditional photography and digital imaging, with sales of more than $14 billion for 1999. Kodak's businesses serve a wide range of consumer, professional, entertainment, commercial and health-imaging needs. In digital imaging, the company generated more than $2.3 billion in sales during 1999. In commercial markets, the company is the number one supplier of high-end professional digital cameras, the top supplier of high-speed, high-resolution scanners for document imaging and the leader in digital laser imagers for health applications. In consumer markets, Kodak is among the top suppliers of digital cameras and inkjet media for home and small office use, digital services, such as Kodak Picture CD, AOL's "You've Got PicturesSM" and Kodak PhotoNet(TM) online. For more information on Kodak products and services, please visit our website at www.kodak.com.

Editor's Note: Full bios and photographs are available for each of the executives named above.

(Kodak is a trademark of Eastman Kodak Company. PhotoNet is a trademark of PictureVision, Inc. "You've Got Pictures" is a service mark of America Online.)