Antonio Perez, Kodak CEO
There he is. Kodak's CEO Antonio Perez, who seems to not only be surviving bankruptcy, but thriving during Kodak's downfall. The company, once the crown jewel of George Eastman and Rochester, yesterday released info about Perez's compensation for 2012 as the company re-organized. His salary was ONLY $1.15 million. But when you tack on bonuses and benefits, Mr. Perez made total compensation of $3.5 million last year while cutting jobs, benefits, retiree pensions, selling off Kodak assets and killing the stock that many invested their hard earned money in. All after his prior blueprints for change failed. How's that make you feel? If your stomach churned a bit, pop some Pepto and get ready for this eye opener: IF Kodak successfully emerges from bankruptcy this year, Perez will collect a bonus of another $1.3 million! No wonder just two weeks ago the visionary of State St. was quoted as saying Kodak "was on a clear path". Yeah Mr. Perez, right to the bank for you.
I'm just guessing that IF Kodak does come out of bankruptcy (and don't get me wrong, we ALL want that to happen) Perez will then be available to receive a sizable hike in salary for being such a "success" at keeping Kodak afloat. All this as thousands have been asked to leave the company, divisions have been sent packing, buildings imploded and many retirees have sleepless nights. So look at the eyes of that man in the picture. Those cold eyes from a man who really looks like he's suffering, huh?