Reinventing Kodak

Kodak, once a symbol of analog photography, was declared bankrupt in 2012 after failing to embrace digital disruption—despite inventing the first digital camera in 1975. Today, under CEO Jim Continenza, the company has reinvented itself not as a consumer brand, but as a high-precision industrial manufacturer. Continenza, a seasoned turnaround specialist, took over during the company’s darkest hour and refocused Kodak on its core strengths: advanced materials, chemical engineering, and precision coating—skills honed over a century of film production. His bold decision to revive film manufacturing, even at a loss, was galvanized by a conversation with director Christopher Nolan, who championed film’s artistic superiority. This commitment led to a $20 million investment in a new pharmaceutical plant at Eastman Business Park and the restoration of machines decades out of production, including a spooler with tolerances of one in 150 millionth. Kodak now produces print plates, medical reagents, and battery substrates—all using the same layering and coding processes that once made film. The company has doubled its film output, brought back nearly 1,000 jobs, and built a self-sustaining industrial ecosystem with its own rail, water treatment, and power systems. Continenza rejects the idea that companies must cut their way out of crisis; instead, he insists on selling their way out, leveraging innovation, AI, and deep operational engagement to drive efficiency and growth.