Eastman Kodak Co. is enduring tough times these days, but perhaps a change in leadership will help jump-start the company's fortunes. The photography giant announced yesterday that it has promoted its general counsel, Laura Quatela, to president, effective Jan. 1, 2012.

Quatela, who joined the company in 1999 and since 2008 was responsible for monetizing Kodak's intellectual property, will serve alongside current President Phil Faraci. Both Quatela and Faraci will report to CEO Antonio Perez.

“Laura's election reflects her increasing role in the company, including the strategic importance of the intellectual property business,” Perez said in a release.