History in the making…
On Wednesday Kodak filed a motion with the Bankruptcy Court that would give 15 top executives awards if the company is successful in restructuring. A possible $8.82 in cash and deferred stock would be paid if the execs meet their goals to return money to creditors. To receive 100% of the executive award, an excess of 10% over what creditors are owed must be achieved. CEO Antonio Perez could possibly receive $2.2 million under this plan.
Kodak is again realigning it’s division. Just 6 months ago Kodak changed from 3 divisions to 2; consumer and commercial. Now they are changing again to 3 divisions; consumer, digital printing and entertainment. Kodak’s reasoning is that this will streamline the structure of the company.
Kodak and Alfresco have announced a global strategic alliance to provide customers with superior levels of content and document management services. Alfresco provides enterprise content management systems. Kodak provides scanning, storing, and retrieving of documents and information.