Hestia Capital Releases Presentation Detailing the Urgent Need for Changes in Leadership and Strategy at Pitney Bowes
April 12 2023 - 9:00AM
Business Wire
Visit www.TransformPBI.com to
Download a Copy of the Presentation and Obtain Information About
How to Vote on the WHITE Universal
Proxy Card
Hestia Capital Management, LLC (collectively with its
affiliates, “Hestia” or “we”), which is the third largest
stockholder of Pitney Bowes, Inc. (NYSE: PBI) (“Pitney Bowes” or
the “Company”) and has a beneficial ownership position of 8.5% of
the Company’s outstanding common stock, today announced that it has
issued a presentation that details the urgent need for boardroom
change and opportunity for a sustainable, value-enhancing
turnaround. Notably, Hestia’s director candidates have prepared a
comprehensive six-pillar plan that targets a $15+ stock price in
the coming years, which they believe will also help improve the
Company’s credit profile. The six-pillar plan can be viewed at the
following link: bit.ly/TransformPitneyBowes.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230412005354/en/
As a reminder, Hestia is seeking to elect five highly qualified
and independent candidates to Pitney Bowes’ nine-member Board of
Directors (the “Board”) at the Annual Meeting of Stockholders (the
“Annual Meeting”) on May 9, 2023. To maximize the likelihood of a
turnaround at Pitney Bowes, we urge you to vote for Hestia’s full
slate on the WHITE universal
proxy card or WHITE voting
instruction form. Visit www.TransformPBI.com to download a copy of
the presentation and sign up for future updates.
About Hestia Capital
Hestia Capital is a long-term focused, deep value investment
firm that typically makes investments in a narrow selection of
companies facing company-specific, and/or industry, disruptions.
Hestia seeks to leverage its General Partner’s expertise in
competitive strategy, operations and capital markets to identify
attractive situations within this universe of disrupted companies.
These companies are often misunderstood by the general investing
community or suffer from mismanagement, which we reasonably expect
to be corrected, and provide the ‘price dislocations’ which allows
Hestia to identify, and invest in, highly attractive risk/reward
investment opportunities.
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version on businesswire.com: https://www.businesswire.com/news/home/20230412005354/en/
Longacre Square Partners Charlotte Kiaie / Miller Winston,
646-386-0091 hestia@longacresquare.com
Saratoga Proxy Consulting LLC John Ferguson / Joe Mills,
212-257-1311 info@saratogaproxy.com
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