Pitney Bowes adds directors, strikes deal with Hestia Capital; Chair to retire

PITNEY BOWES INC /DE/

Board adds William S. Simon and Jill Sutton effective Feb 1; Mary Guilfoile to retire as Chair after 2024 annual meeting.
Cooperation agreement with Hestia Capital (Kurt Wolf) includes standstill at 9.9% ownership, mutual non-disparagement, voting support.
Hestia agrees to vote shares per board recommendations except on extraordinary transactions; standstill extends to 2026/2027 annual meeting.
New directors bring experience in capital allocation, governance, transformations; CEO search ongoing with eventual board addition.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Mary J. Guilfoile

Director

PBI · PITNEY BOWES INC /DE/

Filed: February 1, 2024, 6:59 PM ET

On January 31, 2024, the Company announced the retirement of Mary J. Guilfoile from the Board.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mary J. Guilfoile retired as Director at PITNEY BOWES INC /DE/.

Action: retired
Role: Director

Exact text from the filing

On January 31, 2024, the Company announced the retirement of Mary J. Guilfoile from the Board.

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PITNEY BOWES INC /DE/ filing history →

Source: SEC EDGAR

accession 0001140361-24-005131

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