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Laura Tyson, a professor and White House advisor, told Kodak on Thursday she was resigning from its board, the company said on Friday in a Securities and Exchange filing. Kodak, which was once synonymous with photography, is looking to sell patents to shore up its shrinking cash position and stay in business after failing to turn an annual profit since 1997. Last month, the Rochester, New York-based company warned that unless it could raise $500 million in new debt or sell some patents in its portfolio, it might not survive 2012. Tyson, who did not immediately respond to a request for comment, is a professor at the Walter A. Haas School of Business at the University of California, Berkeley. She has also served as a member of President Barack Obama's Economic Recovery Advisory Board and in the 1990s advised the Clinton administration on the economy. Earlier this week, Kodak said directors Adam Clammer and Herald Chen had resigned. Clammer and Chen were representatives of private equity firm KKR & Co and had joined Kodak's board in 2009, after KKR bought $300 million of Kodak's senior secured notes and warrants to buy 40 million of the company's shares. Kodak's shares edged lower in extended trade to 63 cents after closing marginally down at 65 cents. (Reporting by Noel Randewich in San Francisco; Additional reporting by Sinead Carew in New York; Editing by Gary Hill and Gunna Dickson) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (4) Harry079 wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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