I believe that Antonio Perez became aware of the problems around marketing spending at Kodak Gallery in 2008, at approximately the same time that the economy really began to take a deeper dive. This would make sense, as that would be the paramount time to review and tighten up on all spending and ensure that we got the maximum bang for each dollar spent. It is also likely that Antonio detected the lack of synergy between not only the two companies, Eastman Kodak and Kodak Gallery, but also within Kodak Gallery alone.
Such observations would certainly be unacceptable conditions for any leader at any time, but especially unsettling at a time when, more than ever, resources were expected to perform in sync around thoroughly formed strategies. This was actually far from the reality.
Antonio took action to control the disorder by appointing a new CFO/COO to manage financials at Kodak Gallery in 2008. He was the former Dir./VP of Corporate Financial Planning and Analysis at Eastman Kodak, assistant to Antonio Perez, and also the former Finance Director. He was highly regarded for his financial acumen and his approach to business, and Kodak Gallery would prove to be the fertile grounds to test those skills.
After the new CFO/COO arrived, he quickly asserted himself in all financial matters at Kodak Gallery, with an emphasis on marketing spending. He even offered suggestions for ad agencies the company should consider doing business with to reduce costs. It was quite apparent that he was on a mission, as he went right to the heart of the major problem.
I was delighted to see the new CFO/COO acknowledge and attack the real issue at Kodak, and I felt that I finally had a major ally in the battle to end the reckless spending.
But would he be enough? I wondered if he, like others, might also eventually surrender to the onslaught of political projectiles launched by marketing at anyone who challenged their spending habits. I knew that he needed not only to be resilient and emphatic, but that he also needed to have a convincing and highly regarded presence.
With that in mind, I saw this as an opportunity for me to do something. Soon after his arrival, I asked the new CFO/COO if he had been given a tour of the company. He indicated that he had not. I offered to show him around the campus and introduce him to other employees, the rationale being that this would be a good first step to ensure that all employees knew that there was a new sheriff in town. The tour went well and the new CFO/COO seemed quite inquisitive as he asked very specific and detailed questions even about certain lab equipment that was used to print various sizes of photos, photo books, and posters. Our conversation also went very well, and I was pleased to discover a clear camaraderie taking shape between us. This I thought to be vital to the company’s financial well-being.
As gratifying as that was, I didn’t stop there. I fully understood that that was only the beginning of a long road ahead.