To: RIT Community
From: President Bill Destler
Date: Jan. 19, 2012
Subject: Eastman Kodak's bankruptcy announcement
The news of Eastman Kodak filing for Chapter 11 bankruptcy reorganization is certainly historic. Yet we need to understand, too, that Chapter 11 does not mean Kodak is going out of business. The 131-year-old company is taking steps to build a new foundation for the future. RIT will remain a supportive partner in this uncharted territory for Kodak.
Kodak and RIT ties go back to 1892 when George Eastman donated $5,000 to the university’s forerunner, Mechanics Institute. Eastman served as an Institute trustee from 1890–1915, including as chairman. Our century-long relationship blossomed into a multifaceted and multibeneficial partnership that continues today.
While this news is significant, there will be new opportunities to innovate. Kodak has reached out to RIT and looks forward to continuing and strengthening our relationship well into the future. The company has invited us to visit its website at www.kodaktransforms.com to learn more about the reorganization.
See RIT Experts Discuss Kodak Bankruptcy Filing to read what experts from the E. Philip Saunders College of Business and College of Imaging Arts and Sciences say about Kodak’s past and future.