![]() If Pitney Bowes’ recommended director nominees are elected, 88.9% of the Board will be independent, 66.7% of the Board will be diverse, and the average director tenure of the Board will be approximately 5.1 years. This continues the path of Board refreshment that the Company has undertaken the last few years. Dutkowsky as Non-Executive Chair of the Board, along with announcing that three current directors will not stand for re-election. Brill to the Board, supported the election of Hestia nominee Katie May at the upcoming Annual Meeting, elected Robert M. In line with its commitment to regular and ongoing Board refreshment, Pitney Bowes recently appointed Darrell Thomas and Steven D. The Pitney Bowes Board is comprised of a strong, engaged, and diverse set of directors, with a balanced mix of experience, skills, leadership expertise, and new perspectives. GEC’s current purpose-built strategy for B2C ecommerce logistics is the right one and departing from this strategy – as Hestia proposes – would be value destructive and unravel the significant network build-out, ecommerce logistics foothold, and strong client relationships we have established. Improved unit gross profit by $0.34 YoY in 2022.Įnhanced consumer tracking event speed from 12 – 24 hours at the time of the former Newgistics acquisition to now being within seconds. Reduced revenue churn from 17% in 2021 to 8% in 2022.Īdded 90+ new domestic parcel contract signings in 2022. Improved customer loyalty, measured by Net Promoter Score (NPS), by 23 points year-over-year ("YoY") in 2022. Improved average domestic delivery time by two days in 2022 vs. Improved on time delivery from 78% in March 2022 to over 90% currently. Supported by a series of strategic investments, GEC has grown at a ~23% CAGR between 20, and has recently made vast improvements in our operating and financial KPIs, including: Lautenbach has also improved the Company’s revenue CAGR from -8.6% from 2007 – 2012, the years prior to his joining the Company, to 4.9% from 2017 – 2022.įollowing the acquisition of Newgistics and other strategic investments, Pitney Bowes has built GEC into a leading, integrated ecommerce logistics player capable of leveraging USPS final mile delivery for nationwide coverage, and the business is well positioned for continued growth and margin expansion as volumes increase. Lautenbach’s leadership has helped reduce debt by $1.7 billion, eliminate several hundred million dollars of expenses, return $1.5 billion of capital to shareholders via dividends and share repurchases, invest $2.6 billion in our businesses, and divest $2.1 billion of strategically incoherent, slower-growth businesses. Investments in GEC have significantly enhanced Pitney Bowes’ domestic parcel operations and capabilities, while investments in modernizing product portfolio and technology infrastructure have boosted growth potential for both SendTech and Presort.Īt the time of Marc Lautenbach’s appointment as CEO in December 2012, Pitney Bowes was a portfolio of disjointed businesses in decline, several of which were suffering from a lack of investment in their product lines. Pitney Bowes’ transformation strategy has laid a strong foundation for sustainable profitable growth and shareholder value creation. GEC – Built a new growth segment delivering $1.6 billion of revenue as of 2022, which is on the path to being profitable. Presort – Invested through acquisitions and technology to enable growth in a declining environment. SendTech – Reinvested to create a comprehensive letter mailing and parcel shipping solution. This includes simplifying the business into three synergistic segments focused on reducing the complexity of mailing and shipping for clients – Sending Technologies ("SendTech"), Presort, and Global Ecommerce ("GEC") – and we have taken targeted steps to optimize these segments to the current business climate through the following: The Board and management team have overseen the Company’s significant transformation to address structural business challenges and reposition Pitney Bowes as a shipping and logistics business comprised of a balanced and coherent portfolio of steady revenue and high-growth segments. Over the past 10 years, the Pitney Bowes Board and its management team have taken decisive actions to create sustainable value for shareholders by transforming the Company from a position of secular decline to growth. Securities and Exchange Commission ("SEC") in connection with the Company’s 2023 Annual Meeting of Shareholders (the "Annual Meeting") to be held on May 9, 2023. STAMFORD, Conn., April 13, 2023-( BUSINESS WIRE)-Pitney Bowes (the "Company") (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that it has filed an investor presentation with the U.S. ![]() ![]() Urges Shareholders to Vote FOR Pitney Bowes’ Nominees and Katie May on the GOLD Proxy Card
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