Pitney Bowes Announces Leadership Transition
October 02 2023 - 8:00AM
Business Wire
Jason Dies, Who Has Successfully Overseen
SendTech, Presort and Other Critical Business Functions Within the
Company, Appointed Interim CEO
Marc Lautenbach Has Stepped Down as
President, CEO and Board Member
The Board Has Formed a Long-Term Planning
Committee to Oversee a Search for a Permanent Successor and Support
Other Value-Enhancing Initiatives
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing
company that provides technology, logistics, and financial
services, today announced that the independent members of its Board
of Directors (the “Board”) have unanimously approved the following
actions:
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the full release here:
https://www.businesswire.com/news/home/20231002733717/en/
Jason Dies, interim Chief Executive
Officer, Pitney Bowes (Photo: Business Wire)
- Jason Dies, who most recently served as the Company’s Executive
Vice President and Group President, has been appointed interim
Chief Executive Officer, effective immediately. Since joining
Pitney Bowes in 2015, Mr. Dies has held roles of increasing
responsibility and has led a number of strategic initiatives,
including a successful transformation of the Company’s Sending
Technology Solutions (“SendTech”) segment. As Executive Vice
President and Group President, Mr. Dies was responsible for
overseeing the Company’s SendTech and Presort Services (“Presort”)
segments as well as the Human Resources, Information Technologies,
Marketing and Communications groups. As interim Chief Executive
Officer, Mr. Dies will focus on accelerating corporate cost
optimization and related restructuring efforts while also working
with the leaders of SendTech, Presort and Global Ecommerce to
identify actionable opportunities to strengthen performance and
market positioning.
- The Board will be conducting a comprehensive search process for
a new permanent Chief Executive Officer. The process will be
supported by a nationally recognized, independent search firm. The
process is expected to include internal and external
candidates.
- The Board has formed a Long-Term Planning Committee (the
“Committee”) to lead the search process. The Committee is also
responsible for assisting the Board in its oversight of the
Company’s ongoing strategic initiatives and evaluating new value
creation opportunities. The Committee’s members are Mary J.
Guilfoile, Katie May, Sheila A. Stamps and Kurt Wolf, with Ms.
Guilfoile and Mr. Wolf serving as co-Chairs.
In connection with these actions, Marc Lautenbach has stepped
down as President and Chief Executive Officer and as a member of
the Board, effective immediately. With his departure, the Company’s
Board now includes eight members.
Ms. Guilfoile, Chair of the Board, commented:
“For more than 100 years, Pitney Bowes has embraced change in
order to best serve its clients, partners, employees and
shareholders. This philosophy has allowed Pitney Bowes to evolve
from producing analog postage-stamping machines to now providing
technology-enabled mailing, sortation and shipping solutions to an
expansive global client base. After careful deliberation and
consideration of various factors, the Board determined it is the
right time to initiate a search for our next permanent Chief
Executive Officer and install a qualified interim leader who can
continue to advance key initiatives and pursue new opportunities
for value creation. Jason’s collaborative leadership style and
strong industry experience give us confidence that he will be able
to drive tangible progress across the organization and facilitate a
smooth transition for all of the Company’s stakeholders.”
Ms. Guilfoile added:
“On behalf of the entire Board, I want to take this opportunity
to thank Marc for his many years of dedication and leadership. Marc
fostered commitments to innovation and client-centricity that will
endure at Pitney Bowes. He also successfully led us through the
challenging Covid-19 pandemic, which had a profound impact on the
global supply chain. We appreciate his many contributions to our
transformation and wish him all the best.”
Mr. Lautenbach stated:
“It has been an honor and a privilege to lead this iconic
company for over a decade. As proud as I am of what has been
accomplished, I am particularly proud of our team, who has always
been guided by our ‘true north’ – our value of doing the right
thing the right way. I am confident that this value will continue
to guide our Company’s journey going forward.”
Mr. Dies concluded:
“I am extremely excited to take on the interim Chief Executive
Officer role and want to thank the Board for placing its trust in
me. All of us at Pitney Bowes know that we are part of a historic
brand that plays a pivotal role in helping companies meet their
most critical mailing and shipping needs. I look forward to working
with all my colleagues to identify new opportunities and solve
challenges head-on, leading to positive impacts for our clients,
shareholders, partners and employees. This is a very exciting time
for Pitney Bowes, and I intend for this to be a highly productive
transition period as we drive tangible progress and support value
creation for all our stakeholders.”
Additional information related to today’s announcements can be
found on Form 8-K filed with the U.S. Securities and Exchange
Commission.
Jason Dies Biography
Jason Dies joined Pitney Bowes in 2015 and has held several
senior leadership roles. He led the transformation of SendTech,
creating value for clients with an entirely modernized portfolio,
securing revenue and free cash flow, while creating new growth
paths in shipping. He also, in the last year, has taken on
oversight of the Company’s Presort segment, resulting in him
leading the two key profit and free cash flow drivers for the
Company. Previously, Jason was General Manager, Public Sector for
IBM Global Technology Services (“IBM”), North America where he was
responsible for IBM’s strategic IT outsourcing business for clients
in the State & Local Government, Healthcare and Education
industries. During his 20-year career at IBM, Jason held senior
leadership positions in North America, Europe and Asia, and led
teams across diverse business units including services, hardware,
business process outsourcing and partner organizations. Jason
graduated from Cornell University with a Bachelor of Arts in
Government, and holds a Master of Arts in Political Science from
the University of Pennsylvania.
About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global
shipping and mailing company that provides technology, logistics,
and financial services to more than 90 percent of the Fortune 500.
Small business, retail, enterprise, and government clients around
the world rely on Pitney Bowes to reduce the complexity of sending
mail and parcels. For the latest news, corporate announcements and
financial results visit
https://www.pitneybowes.com/us/newsroom.html. For additional
information visit Pitney Bowes at www.pitneybowes.com.
This document contains “forward-looking statements” about the
Company’s expected or potential future business and financial
performance. Forward-looking statements include, but are not
limited to, statements about the Company’s future progress, plans,
market positioning and future events or conditions. Forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties that could cause actual results to differ
materially from those projected. Factors which could cause future
financial performance to differ materially from expectations
include, without limitation, not realizing the anticipated benefits
of our ongoing strategic initiatives, corporate cost optimization
and related restructuring efforts; declining physical mail volumes;
changes in postal regulations or the operations and financial
health of posts in the U.S. or other major markets or changes to
the broader postal or shipping markets; our ability to retain
management and other employees; our ability to continue to grow and
manage unexpected fluctuations in volumes, gain additional
economies of scale and improve profitability within our Global
Ecommerce segment; the loss of some of our larger clients in our
Global Ecommerce and Presort Services segments; the loss of, or
significant changes to, United States Postal Service (USPS)
commercial programs, or our contractual relationships with the USPS
or their performance under those contracts; the impacts on our cost
of debt due to recent increases in interest rates and the potential
for future interest rate hikes; and other factors as more fully
outlined in the Company's 2022 Form 10-K Annual Report and other
reports filed with the Securities and Exchange Commission during
2023. Pitney Bowes assumes no obligation to update any
forward-looking statements contained in this document as a result
of new information, events or developments.
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