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KODAK CEO SAYS COMPANY IS OPERATING DIFFERENTLY

 KODAK CEO SAYS COMPANY
 IS OPERATING DIFFERENTLY
 ATLANTA, May 13 /PRNewswire/ -- To maximize the potential of Eastman Kodak Company (NYSE: EK) and to return fair value to shareowners, "We cannot simply do the old things better, we must do them differently," Kay R. Whitmore, Kodak chairman, president and chief executive officer said today.
 Speaking here at the company's annual meeting, Whitmore told shareowners that if Kodak is to participate in the future, performance must improve today.
 "The first quarter figures released last month suggest that our Health and Chemicals groups are performing well," he said. "Nevertheless, there is still room for improvement. It is in Imaging where we have the most work to do and where we have the greatest opportunity in both the near and longer terms.
 "Concerning the near term, we have every confidence that with business recovery in the second half of this year, our results-- earnings as well as sales--will show marked improvement."
 Whitmore outlined five ways in which the company is moving forward with its strategy for improved performance:
 FRAMEWORK FOR STRATEGIC GROWTH
 "We are determined to alter the status quo by reorganizing our structures and refocusing our efforts to establish a new framework for strategic growth," Whitmore said. As evidence, he cited last year's major restructuring of the company in which the photographic and information systems groups were merged, the number of corporate officers was reduced by nine, a retirement and resource redeployment plan was undertaken to reduce long-term costs, and presidents were appointed to head the Imaging, Chemicals and Health groups.
 NEW TECHNOLOGY, NEW PATHWAYS
 "We are positioned at the forefront of a new world of imaging with cutting edge technology and products," Whitmore said. Leading the way is the innovative Kodak Photo CD system that will allow consumers to take pictures with traditional cameras and film, and then have those photos put on a compact disc for viewing on a television set or for use on a computer with a CD-ROM XA drive.
 "The major developers of computer hardware and software--from Apple Computer to IBM and Aldus--have endorsed it as the standard for color imaging," he added.
 Whitmore emphasized that technology improvements and successes also are pervasive with traditionally based products--from the new Insight line of medical chest imaging films to the new Kodak Gold Plus films to the Fun Saver telefoto single-use camera.
 BUILDING ON OUR STRENGTHS
 "We are using the muscle of our brand identity to better leverage our strengths in the marketplace," said Whitmore, noting that independent surveys confirm Kodak's ranking among the world's leading brands. The challenge, he said, "is to build on that strength through customer relationships, major sponsorships, advertising and marketing."
 Whitmore added that Kodak is creating opportunities by focusing not just on product and trade channels, but on lifestyles and consumer segments--youth, new parents and seniors.
 FORGING STRATEGIC ALLIANCES
 "We are forging new strategic alliances with suppliers, customers and even
some historical competitors," Whitmore explained. He highlighted the alliance between Sterling Winthrop and the French firm Elf Sanofi--placing alliance pharmaceutical operations in the top 20 in the industry.
 "And in what many see as a breakthrough in itself, Kodak has undertaken a cooperative R&D project with four Japanese manufacturers- -Canon, Fuji, Minolta and Nikon--to investigate options for advanced photographic systems," Whitmore said.
 CHANGING THE WAY WE WORK
 "We are changing the way in which we work--no longer settling for incremental change when real breakthrough are required," the Kodak chairman said. "Some of that change is reflected in our materials manufacturing where we are reducing cycle times both in product development and manufacturing throughput time...and in the fact that more than 40 Kodak units have achieved coveted ISO 9000 certifications.
 "As a result of efforts such as these, improvements in manufacturing materials productivity continue to exceed our annual goals," he said.
 -0- 5/13/92
 /CONTACT: Alan K. Brakoniecki of Eastman Kodak, 716-724-5612/
 (EK) CO: Eastman Kodak Company ST: New York IN: CHM SU:


KK -- CL008 -- 9581 05/13/92 10:33 EDT
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Publication:PR Newswire
Date:May 13, 1992
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