Pitney Bowes Announces Leadership Transition

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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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.