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Kodak has tapped its current president and former HP executive Antonio Perez to be the company's next CEO.

The photo giant today announced that Perez will replace Daniel Carp as CEO on June 1. He will also gain the Chairman role from Carp at the start of next year after Carp retires. Shares of Eastman Kodak rose almost 5 percent on word of Perez's promotion.

It's no secret that Kodak is having a hard time adjusting to the digital world. It hopes to use the digital expertise Perez gained during a 25-year stint at HP where the executive led consumer products and inkjet imaging businesses. Perez has been at Kodak for two years and was brought in by Carp.

"Dan embraced the digital opportunity, and recruited Antonio as the leader who will advance Kodak’s success in digital markets," Richard Braddock, director of Kodak's board. "Both have focused on guiding customers through the industry’s technology shift, by developing a broad portfolio of digital products and services to complement the company’s silver halide offerings.”

If Kodak has the cash, it might not be a bad time to bring in former HP CEO Carly Fiorina for some advice on how to best to conquer the digital market. We hear she talks cheap and knows how to pull off major turnarounds well. ®

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