After the digital advent upended traditional photography, Eastman Kodak Company shifted its core competencies toward OEMs and advanced manufacturing industries that are now booming. The icing on the cake is a dramatic resurgence of demand for film products the company refused to abandon.
How have you maintained consistency in a time of change?
There have been supply chain issues, rising fuel and energy costs, limited supplies and changing tariffs in the prior administration and this one. Some of these are not in our favor but if I built my business around advantages, I would collapse once they went away. Just give me a level playing field. My parents were immigrants–I learned early to adapt, work through obstacles and keep moving forward. And I always tell my team everyone is going through the same thing. We fixed the macro issues, the bottom line. Now, we focus on the next layer. We have done many, many turnarounds, and what has always mattered is transparency. I am never scripted. I tell people what I know, good or bad. I walk the factories, hold meetings and spend time with employees and our customers. We treat them with respect and tell them everything we tell executives and the board. That is why my team is still with me.
Why did you double down on film and how did you optimize Kodak’s film manufacturing operations?
When I arrived, we had to decide who we were. Film is layering and coating at the toughest degree–the material and technology to capture the perfect picture is extremely difficult and we have been doing it for more than 130 years. We asked why we were running away from something we were great at and began putting those capabilities back to work. Everything at Kodak is huge, like if I want to make a Sunday sauce in a 400 gallon pan and only two people are coming over. How do you put that to use when you do not have the demand? We started OEM-ing for other companies to increase utilization of our facilities because the barrier to entry is enormous. Even if someone has the money, they do not have the know-how, whereas our people are world experts with decades of experience.
Where do you see Kodak's growth opportunities going forward?
We are a United States industrial manufacturer and damn proud of it, with low energy costs, a 1,200-acre Eastman Business Park manufacturing and research campus in Rochester, N.Y., great transportation and automation that has helped us run leaner, with competitive prices for customers. Print, in our wheelhouse of color management, inks and chemistry, will remain a major part of our business. Advanced Materials and Chemicals is our future because it is where we believe there are opportunities for strong growth. For example, we are doing substrate coating for EV batteries and extending our pharmaceutical supply expertise into regulated, higher-value products, starting with foundational lab and biomanufacturing materials like Phosphate Buffered Saline and Water for Injection. I am also looking years ahead at extending our layering and coating capabilities toward manufacturing transparent antennas and light-blocking technologies.
Where is the resurgent demand for film coming from?
On day one, movie director Chris Nolan called and asked if we were going to stay in film. This was not the sole reason we did–we kept making film because it is who we are. Today, we are seeing a resurgence of artistry in which digital and film media coexist. And when I go out, I see people carrying both phones and OTUCs (one-time use-cameras). They tell me the film camera is authentic. If an image is on film, AI cannot alter it, cannot alter history. Film captures what you actually saw, in greater resolution. Just remember that digital says it looks like film, not the other way around. Film has energized us again. We removed bottlenecks and doubled our film manufacturing capacity by rebuilding critical equipment, including spoolers that no longer existed in the world. Now, we are producing 10 times the amount of film rolls we used to and are consistently sold out.
What place do humans have in an increasingly AI-assisted future?
I have seen major technological shifts and fear of technology before, but I have never run from technology myself. Cellular phones, personal computers and the internet made our lives better or different, not worse. We are deploying AI for machine learning, predictability and recording sales calls to give better service.
AI is not going to replace my employees any more than it is going to replace a great chef.
My mother, who was from Italy, was a phenomenal cook. I used to make the same thing she made with the same ingredients but it never tasted the same. She told me: “I make it with love and you make it to eat.” Manufacturing is more than following a specified process–it still requires expertise, craftsmanship and experience. We tell our people: get on board with technological change or you will be left behind. Figure out how it helps you or get another skill. This is how you become worth more.
What philosophy guides your leadership for Kodak's future?
It is all about people. My team has been with me for decades. Every day, I want people to get better and do a little more before they leave. That discipline compounds over time. We have reduced debt significantly, improved gross margins and strengthened the business by staying focused on fundamentals. We operate like a family business that we are here to build and grow. Everyone knows their job and nobody wants to let the other person down. We argue and challenge each other, and I admit when I am wrong. What matters is honesty, accountability and building a future for those who come to work here every day and the next generation of Kodak employees.
