Pitney Bowes appoints activist investor Kurt Wolf as CEO; plans $150M share buyback in 2025

PITNEY BOWES INC /DE/

Kurt Wolf (Hestia Capital) becomes CEO effective May 22, succeeding Lance Rosenzweig who transitions to consultant.
Company intends to execute full $150M share repurchase authorization in 2025; will evaluate dividend increases.
Targets 3.0x adjusted leverage ratio by end of Q2 2025 (one quarter earlier than prior guidance) without retiring debt.
Comprehensive strategic review to be conducted over remainder of 2025 with independent advisors to maximize value.
Full-year 2025 financial guidance reaffirmed, citing strength in SendTech and Presort segments.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Kurt Wolf

President and Chief Executive Officer

PBI · PITNEY BOWES INC /DE/

Effective: 2025-05-22
Filed: May 22, 2025, 7:59 PM ET

the Board of Directors of the Company (the “Board”) has appointed Kurt Wolf as President and Chief Executive Officer of the Company.

Departed

Lance Rosenzweig

Chief Executive Officer

PBI · PITNEY BOWES INC /DE/

Effective: 2025-05-22
Successor: Kurt Wolf
Filed: May 22, 2025, 7:59 PM ET

Lance Rosenzweig will cease to serve as Chief Executive Officer of the Company and as a member of the Board and transition to a consultant role through September 21, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kurt Wolf was appointed as President and Chief Executive Officer at PITNEY BOWES INC /DE/.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Board of Directors of the Company (the “Board”) has appointed Kurt Wolf as President and Chief Executive Officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lance Rosenzweig departed as Chief Executive Officer at PITNEY BOWES INC /DE/.

Action: cease to serve
Role: Chief Executive Officer

Exact text from the filing

Lance Rosenzweig will cease to serve as Chief Executive Officer of the Company and as a member of the Board and transition to a consultant role through September 21, 2025.

View on SEC.gov

PITNEY BOWES INC /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-25-124484

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