Eastman Kodak has just completely reorganised its business structure by setting up two units that will absorb the company’s film and photography segment and maximise its digital and print offerings. The announcement comes after news that it was considering a proposal to file for Chapter 11 bankruptcy protection.
Kodak spokesman Christopher Veronda said the organisation had ‘transformed itself into a company that has a majority of its business in the commercial printing markets’.
The new structure will see all Kodak products and services split into either a commercial or consumer segment that emphasises the company’s printing products and services in order to streamline the old company. Kodak’s two presidents and chief executives, Philip Faraci and Laura Quatela, have been charged to oversee the commercial and consumer segments respectively, according to a company statement.
The commercial segment will provide digital printing equipment, consumables and software to the publishing and commercial printing industries. It will also offer entertainment imaging and commercial film, both of which were previously part of the company’s traditional film and photography segment.
The consumer segment will now absorb the former Consumer Digital Imaging Group, as well as three of the traditional film and photography product lines.
Veronda said the new organisational structure ‘was as a result of Kodak’s annual internal strategic review. The management team identified a streamlined and simplified structure as a means to improve Kodak’s performance now and in the future.’
Veronda also added that no job cuts were directly tied to the announcement, but did indicate that the new structure would help in continuing efforts to reduce administrative costs.
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