Hey! It looks like you're using an outdated version of Internet Explorer. To view our data you need to upgrade to Microsoft Edge, or use a more modern browser. We recommend Google Chrome!

Pitney Bowes Appoints New Interim CEO

According to the Hartford Business Journal, Pitney Bowes Inc., a shipping-services company based in Stamford, has made significant changes in its leadership. The company is pursuing up to $100 million in annual cost savings and aims to reduce its high-cost debt. Interim CEO Jason Dies has retired, and the board has appointed a new interim CEO, Lance Rosenzweig, who previously led Support.com Inc., a software company. Pitney Bowes reported an 8% decline in revenue to $3.3 billion in 2023, and its debt load of $1.8 billion has been described as “disturbingly high.” The company is working to transform into a more streamlined enterprise, focusing on profitable segments and improving liquidity forecasting.

Click here to read the full article: Financially challenged Pitney Bowes appoints new interim CEO amid major cost-cutting plan

Share This Content
Back

JOIN OUR COMMUNITY!

Sign up to receive market news and insights!

  • This field is for validation purposes and should be left unchanged.