Kodak Names Head of Consumer Imaging Unit

Eastman Kodak Co. said Daniel Palumbo will replace Robert Keegan as president of consumer imaging, the largest business unit at the world’s biggest photography company. Palumbo, 42, was chief marketing officer at the unit and a vice president of the company. Keegan, 53, is leaving to pursue other opportunities, the company said. Kodak’s profit rose 4.5% in its second quarter on cost cutting and higher film sales, even as it lost U.S. market share in the first half of the year. Keegan rejoined Kodak in 1997 and was tapped shortly afterward to run the consumer film business, which was facing increased competition from rival Fuji Photo Film Co. Palumbo joined Kodak from Procter & Gamble Co. in 1997 to direct brand management and global marketing. Shares of Rochester, N.Y.-based Kodak closed off 50 cents at $61 on the NYSE.