Kodak Extends Ceo’s Contract Until 2001

George Fisher, who was appointed chief executive of Eastman Kodak Co. in 1993, said Wednesday he has agreed to extend his five-year contract through the year 2000.

The extension set aside speculation that Fisher was preparing to step down when his current contract expired at the end of next year. Kodak anointed an heir apparent in December by promoting Daniel A. Carp to president and chief operating officer.

Fisher earns a base salary of $2 million a year that remains unchanged in the amended contract. He also will not receive a cash bonus.

But he gets two million stock options exercisable at $90.12-1/2 each over 10 years, and 50,000 restricted shares, with the restrictions lapsing at the end of the contract, the company said.