“We were losing about $160 million a year. We burned through our cash and we had to make some changes. I don’t mean a financial restructuring. I mean transformation of the business. It’s a skill and an art. I asked, ‘What does Kodak do today?’ and I couldn’t get an answer. And I thought we had to get our identity back. What are our skills? What do we do?”
Leanna Byrne speaks to Jim Continenza, chief executive of Kodak, the company that once dominated photography and became one of the world’s most recognisable brands.
The rise of digital photography helped trigger one of the most dramatic corporate collapses of its era, leading to Kodak filing for bankruptcy in 2012.
Jim joined the company’s board during the bankruptcy process, after building a career as a turnaround specialist. He had served on more than 30 boards, often stepping in when struggling businesses needed to be reconstructed.
He discusses how he helped to give the company a new identity, rebuild itself as an industrial manufacturer and brought the business back from the brink.
The Interview brings you conversations with people shaping our world, from all over the world. The best interviews coming from the BBC, including episodes with Google CEO Sundar Pichai and author Maggie O’Farrell. You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts. Presenter: Leanna Byrne Producer: Osman Iqbal Editor: Farhana Haider
(Image: Jim Continenza. Credit: Getty)