Kodak 2001 Annual Report Download - page 100

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Please find page 100 of the 2001 Kodak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Board Committees
The Board has the committees listed below. All committee members are non-employee, independent directors
as defined by the New York Stock Exchange listing standards.
Audit Committee
• discussed the independence of the independent accountants;
• discussed the quality of the accounting principles used to prepare the Company’s
financial statements;
• recommended the firm that Kodak should retain as independent accountants;
• reviewed the audit and non-audit activities of both the independent accountants and
the internal audit staff of the Company;
• met separately and privately with the independent accountants and with the
Company’s Director, Corporate Auditing, to ensure that the scope of their activities
has not been restricted and that adequate responses to their recommendations have
been received; and
• reviewed the Committee’s written charter and assessed the Committee’s
effectiveness.
8 meetings in 2001
Committee on Directors
• sought qualified individuals with requisite skills for Board membership; and
• recommended qualified individuals to be considered for Board membership.
4 meetings in 2001
Executive Compensation and Development Committee
• reviewed the Company’s executive development process;
• set the compensation for the executive officers and recommended the compensation
of other key management;
• granted and certified awards under the Company’s compensation plans;
• reviewed diversity representation within the Company;
• completed a review of Kodak’s executive compensation program;
• approved a new annual executive assessment and reward program; and
• approved the Stock Option Exchange Program.
7 meetings in 2001
Finance Committee
• reviewed the Company’s financing strategies including dividend declaration, capital
expenditures, debt issuances and foreign exchange and commodity hedging;
•reviewed cash flow, balance sheet performance and credit ratings;
• reviewed significant acquisitions, divestitures, and joint ventures; and
• reviewed the investment performance and the administration of the Company’s
defined benefit pension plan.
5 meetings in 2001
Public Policy Committee
• reviewed philanthropic programs;
• reviewed environmental initiatives;
• reviewed employee survey results;
• reviewed employee relations issues; and
• reviewed diversity initiatives.
3 meetings in 2001
13