NEW YORK : Hestia Capital Partners LP plans to overhaul the board of shipping and mailing company Pitney Bowes Inc and replace its chief executive and chair, according to a letter to other shareholders reviewed by Reuters.
Marc Lautenbach has been CEO of Pitney Bowes for a decade and Michael Roth, the chair, has served on the board since 1995. Wolf suggested that the Pitney Bowes board consider selling the company's Global Ecommerce segment if its results did not improve, Reuters reported. He further proposed creating a board committee focused on capital allocation and strategic planning, like the one he served on at GameStop with billionaire Ryan Cohen,
Source: News Formal (newsformal.com)
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