The Security and Exchange Commission (SEC) announced on Friday that Laura D. Tyson had resigned from her post as board member.  This follows after two other board members, Herald Chen and Adam Clammer, had also resigned from their posts as board members just last week.  This leaves Kodak with 11 board members including Chief Executive Antonio Perez.

Tyson, who joined the Kodak board in 1997 refused to comment on her reason for leaving.  A Kodak spokesman had said that they are cutting on the size of their board of directors and there is no word on finding a replacement.  Reports claim that Chen and Clammer had resigned because they had “had grown frustrated with Kodak’s slow progress in turning around its operations.”

Kodak is looking at selling its digital imaging patents to increase its cash flow.  According to Reuters, unless Kodak can raise $500 million in new debt or sell its patents, it may not survive 2012.