How Kodak’s CEO Plans To Keep The Business Alive After Over 100 Years

Kodak, written off by Wall Street after bankruptcy a decade ago, claims it's undergoing a turnaround. CEO Jim Continenza, a self-proclaimed turnaround specialist, highlighted his team's 30 years of experience in company turnarounds. He noted the brand's resurgence, driven by nostalgia for film in Hollywood and interest from younger consumers. Continenza revealed that Christopher Nolan contacted him in 2019 to prevent the closure of Kodak's acetate factory, crucial for film production. Hollywood remains vital, with Oscar-winning movies like "One Battle After Another" and "Sinners" shot on Kodak film. Despite challenges in regaining Wall Street's confidence, with stock prices fluctuating from over $35 in 2014 to $1.55 during the pandemic, Kodak's stock has risen by 100% in the past year. Continenza emphasizes steady growth over spikes. He has focused on print, advanced materials, and chemicals as core priorities. The company's debt has been refinanced three times, with over $400 million paid off. Leadership has seen a 90% change since 2020, reducing over $1 billion in debt to a balance of cash and debt. Continenza defines future success as improved finances and a solid leadership succession plan.