Kodak loses third board member in 2 weeks
(AP) -- Eastman Kodak Co. says another member of its board of directors has resigned - the third director to exit the struggling company in the past two weeks.
The latest director to relinquish the post is Laura D. Tyson, according to a company filing with the Securities and Exchange Commission on Friday. Kodak didn't say why Tyson resigned.
Tyson is a professor of global management at the University of California, Berkeley's Walter A. Haas School of Business.
On Tuesday, Kodak disclosed that Adam Clammer and Herald Chen resigned from the board last week. Clammer and Chen had represented private equity fund Kohlberg Kravis Roberts & Co. on Kodak's board.
KKR gained the seats in 2009 after investing $300 million in Kodak. The company paid KKR back last year, ahead of schedule.
The resignations come after the photography-products pioneer warned in November that its survival over the next year hinges on an ability to sell its potentially lucrative digital-imaging patents or raise extra funds by borrowing. It said it is seeking to raise an additional $500 million in financing.
©2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Jan 01, 2012
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Jan 01, 2012
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No one in their right mind would give Kodak a dime. That company will not survive the next 2 years and has nothing to sell but it's office furniture.
Jan 01, 2012
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Dell could combine these companies and make them work together to produce a customer friendly and easily gain a foothold into their distribution network and much more importantly create a viable alternative to Apple.
Jan 02, 2012
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Jan 02, 2012
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They still have a bunch of patents they could sell but after that.... like you said the office furniture.