In an exclusive interview with Associated Press, Eastman Kodak Co. Chief Executive Antonio Perez was optimistic about the company's future post-bankruptcy. Perez added, "Look for a case of a company that had to go through this kind of excruciating restructuring and kept innovating. It just doesn't happen, but we've done it."
Kodak filed for a Chapter 11 bankruptcy protection in January 2012. Perez, upon his appointment to the chief executive position of the beleaguered company in 2005, made drastic but necessary moves to refocus on its more profitable business units. This had cost the company about USD3.4 billion. Kodak laid off 50,000 of its people, shuttured 130 labs for film-processing, and closed 13 factories globally. The company also has since then, phased out some of its businesses, mainly digital and pocket video cameras, and digital photo frames.
Kodak, after post-bankruptcy, would be starting small with a 8,500 workforce to provide packaging, functional printing and graphic communications businesses. Perez also said that by starting small, the company would be able to focus on research and development to improve not only on its remaining businesses, but to look for more profitable ones. One of Kodak's biggest projects is a less-costly touchscreen for tablets and smartphones.
Perez confided to Associated Press that he would be stepping down as CEO next year and would remain an adviser. "I love this company. I Iove what we have done. But now it's time," he said.
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