Pitney Bowes Appoints Lance Rosenzweig To Succeed Jason Dies As Interim CEO

RTTNews | 344 days ago
Stocktwits
Pitney Bowes Appoints Lance Rosenzweig To Succeed Jason Dies As Interim CEO

(RTTNews) - Shipping and mailing company Pitney Bowes Inc. (PBI) announced Wednesday the appointment of Lance Rosenzweig as the Company's interim Chief Executive Officer, effective immediately. Rosenzweig will continue to serve as a member of the Board of Directors.

In connection the appointment, Jason Dies has stepped down from the role of interim CEO and retired from the Company following years of valued service in various executive roles.

The Board believes that Rosenzweig is best positioned to accelerate the Company's transformation and drive enhanced value for shareholders as interim CEO. A new process for appointing its next permanent CEO is commencing following the recent reconstitution of the Board.

In addition, the Bard has converted its Finance Committee into a Value Enhancement Committee, which is tasked with overseeing financial, operational and strategic initiatives. Pitney Bowes has retained two nationally recognized consulting firms with financial and operational expertise.

Initial analysis has identified an additional $60 million to $100 million in potential annualized savings across the organization, apart from the Global Ecommerce (GEC) business. Pitney Bowes is working to reduce its go-forward required cash needs by approximately $200 million.

These decisions follow the reconstituted Board's assessment of ways to expedite Pitney Bowes' transformation into a more streamlined enterprise focused on its core, cash-generating segments.

Tags: PBI
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Hestia Capital Nominates Seven Candidates For Election To Pitney Bowes' Board

Hestia Capital Nominates Seven Candidates For Election To Pitney Bowes' Board

Hestia Capital Management, LLC, which is the third largest stockholder of Pitney Bowes, Inc. (PBI) and has a beneficial ownership position of approximately 7.2% of the Company's outstanding shares, announced Monday that it has nominated seven highly qualified and independent candidates for election to the Company's nine-member Board of Directors at the Company's 2023 Annual Meeting of Stockholders.
RTTNews | 829 days ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market moves on Friday, adding to the gains in the previous six sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving a tad above the 8,200 level, with gains in iron ore miners, financial and energy stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 1h 4min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are mostly higher on Friday, following the positive cues from Wall Street overnight, amid optimism about possible trade deals, with US President Donald Trump saying he has "potential" trade deals with India, South Korea and Japan as well as expressed optimism about a resolution with China. Traders are also booking some profits following the recent upside in the markets.
RTTNews | 1h 24min ago
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares look set to open a tad higher on Friday as markets resume trading after a holiday on Thursday for Maharashtra Day.
RTTNews | 1h 44min ago
Thai Bourse May Reclaim 1,200-Point Level

Thai Bourse May Reclaim 1,200-Point Level

Ahead of Thursday's Labor Day holiday, the Thai stock market had moved higher in four straight sessions, gathering more than 50 points or 4.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,200-point plateau and it's expected to tick higher again on Friday.
RTTNews | 2h 18min ago
Win Streak May Continue For Indonesia Stock Market

Win Streak May Continue For Indonesia Stock Market

Ahead of Thursday's Labor Day holiday, the Indonesia stock market had moved higher in four straight sessions, advancing almost 160 points or 2.5 percent along the way. The Jakarta Composite Index now rests just beneath the 6,770-point plateau and it's tipped to open in the green again on Friday.
RTTNews | 2h 48min ago
Japanese Market Significantly Higher

Japanese Market Significantly Higher

Extending the gains in the previous six sessions, the Japanese market is significantly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving up to near the 36,900 level, with gains in index heavyweights, automakers and exporters partially offset by weakness in financial stocks.
RTTNews | 2h 51min ago
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