Kodak 2004 Annual Report Download - page 186
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E A S T M A N K OD A K C O M PA N Y
4) TheCommitteewillscreentheresultingslateofdirectorcandidatestoidentifythoseindividualswhobestfitthetargetcandidateprofileandthe
Board’sDirectorQualificationStandards.Fromthisreview,theCommitteewillpreparealistofpreferredcandidatesandpresentittothefullBoard
andtheCEOforinput.
5) TheCommitteewilldetermineifanydirectorhasabusinessorpersonalrelationshipwithanyofthepreferredcandidatesthatwillenablethedirector
toinitiatecontactwiththecandidatetodeterminehisorherinterestinbeingconsideredformembershiptotheBoard.Ifnecessary,thesearchfirm
willbeusedtoinitiatethiscontact.
6) Wheneverpossible,theChairoftheCommittee,thePresidingDirector,atleastoneotherindependentmemberoftheBoardandtheCEOwillinter-
vieweachinterestedpreferredcandidate.
7) Basedoninputreceivedfromthecandidateinterviews,theCommitteewilldeterminewhethertoextendaninvitationtoacandidatetojointheBoard.
8) Areferencecheckwillbeperformedonthecandidate.
9) Dependingontheresultsofthereferencecheck,theCommitteewillextendthecandidateaninvitationtojointheBoard,subjecttoelectionbythe
Board.
10) ThefullBoardwillvoteonwhethertoelectthecandidatetotheBoard.
11) TheSecretaryoftheCompanywillarrangefororientationsessionsfornewlyelecteddirectors,includingbriefingbyseniormanagers,tofamiliarize
newDirectorswiththeCompany’soverallbusinessandoperations,strategicplansandgoals,financialstatements,andkeypoliciesandpractices,
includingcorporategovernancematters.
APPENDIXC:DIRECTORQUALIFICATIONSTANDARDS
InadditiontoanyotherfactorsdescribedintheCompany’sCorporateGovernanceGuidelines,theBoardshould,ataminimum,considerthefollowing
factorsinthenominationorappointmentofmembersoftheBoard:
IntegrityDirectorsshouldhaveprovenintegrityandbeofthehighestethicalcharacterandsharetheCompany’svalues.
ReputationDirectorsshouldhavereputations,bothpersonalandprofessional,consistentwiththeCompany’simageandreputation.
JudgmentDirectorsshouldhavetheabilitytoexercisesoundbusinessjudgmentonabroadrangeofissues.
KnowledgeDirectorsshouldbefinanciallyliterateandhaveasoundunderstandingofbusinessstrategy,businessenvironment,corporategovernance
andboardoperations.
ExperienceInselectingdirectors,theBoardshouldgenerallyseekactiveandformerCEOs,CFOs,internationaloperatingexecutives,presidentsoflarge
andcomplexdivisionsofpubliclyheldcompanies,andleadersofmajorcomplexorganizations,includingscientific,accounting,government,educational
andothernon-profitinstitutions.
MaturityDirectorsshouldvalueboardandteamperformanceoverindividualperformance,possessrespectforothersandfacilitatesuperiorboard
performance.
CommitmentDirectorsshouldbeableandwillingtodevotetherequiredamountoftimetotheCompany’saffairs,includingpreparingforandattending
meetingsoftheBoardanditscommittees.DirectorsshouldbeactivelyinvolvedintheBoardanditsdecisionmaking.
SkillsDirectorsshouldbeselectedsothattheBoardhasanappropriatemixofskillsincoreareassuchasaccountingandfinance,technology,manage-
ment,marketing,crisismanagement,strategicplanning,internationalmarketsandindustryknowledge.
TrackRecordDirectorsshouldhaveaproventrackrecordofexcellenceintheirfield.
DiversityDirectorsshouldbeselectedsothattheBoardofDirectorsisadiversebody,withdiversityreflectinggender,ethnicbackground,countryof
citizenshipandprofessionalexperience.
AgeGiventheBoard’smandatoryretirementageof70,directorsmustbeableto,andshouldbecommittedto,serveontheBoardforanextendedperiod
oftime.
IndependenceDirectorsshouldbeindependentintheirthoughtandjudgmentandbecommittedtorepresentthelong-terminterestsofallofthe
Company’sshareholders.
OwnershipStakeDirectorsshouldbecommittedtohavingameaningful,long-termequityownershipstakeintheCompany.