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Polaroid Names Serafino Posa As Executive Vice President

November 5, 1996

CAMBRIDGE, Mass. (AP) _ Polaroid Corp. hired a Kraft Foods executive, Serafino Posa, as executive vice president and general manager of its international consumer imaging business.

Posa, 42, will be responsible for sales and marketing of Polaroid’s instant camera and film products in more than 150 countries, representing about 40 percent of Polaroid’s worldwide sales.

Polaroid has annual sales of about $2.2 billion in instant cameras and film, electronic imaging, medical and graphic digital imaging systems, polarizers and holographic films.

The appointment to the new posts becomes effective Friday.

Posa previously was senior vice president for business development at Kraft Foods North America, a unit of Philip Morris Cos.

Before that, he had been executive vice president and general manager of Kraft’s All American Gourmet Co. unit. He also worked in the Kraft food and cheese divisions. Before 1990, he worked at Quaker Oats Co.

Gary DiCamillo, Polaroid’s chairman and chief executive officer, said Posa’s strong record in product development and marketing could ``help us to re-establish Polaroid as a power brand among consumers in the mature markets and to build our business ... in developing markets around the world.″

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