Kodak Hires Silicon Valley Digital Expert

Eastman Kodak Co. said it had named longtime Silicon Valley expert Ted Lewis to help the company’s drive to be the leader in the digital and online photo business. Based in Silicon Valley, Lewis will manage Kodak’s $100-million venture-capital fund, which will invest in companies and start-ups with technological know-how to expand Kodak’s digital and online operations. Lewis, who was named senior vice president-digital business development of Rochester, N.Y.-based Kodak, was previously president of DaimlerChrysler Research & Technology, a unit of auto maker DaimlerChrysler. Separately, Kodak is acquiring a stake in a digital photography Web site and has struck a deal with Circuit City Group to offer a how-to CD to buyers of digital cameras in a move to boost sales. Kodak executives did not disclose the amount of the investment in PhotoAlley.com but said Kodak would receive an observer seat on PhotoAlley’s board and become the exclusive print processor for the San Francisco-based company, receiving revenue from each developed picture. Kodak plans to announce today its deal to offer consumers buying digital cameras at Circuit City stores a companion compact disc that explains the ins and outs of digital photography and includes software to organize photos into digital albums. Kodak shares rose 81 cents to close at $40.25 on the NYSE.