logo
Share SHARE
FONT-SIZE Plus   Neg

Pitney Bowes Names Marc Lautenbach President, CEO - Quick Facts

Pitney Bowes Inc. (PBI: Quote) announced its Board has appointed Marc Lautenbach as President and Chief Executive Officer, effective immediately. Lautenbach succeeds Murray Martin, who is retiring as Chairman, President and Chief Executive Officer and has resigned from board. Martin will continue to work with Lautenbach on an effective transition.

The company also reiterated the guidance it provided on November 1, 2012, and anticipates 2012 guidance for: revenue, excluding the impacts of currency, to remain in a range of flat to a decline of 4 percent when compared to 2011; adjusted earnings per share from continuing operations to be in the range of $1.95 to $2.15; and GAAP earnings per share from continuing operations to be in the range of $1.78 to $2.08.

Lautenbach has also been appointed to the company's Board, effective immediately. Lautenbach joins the company from IBM. Most recently, Lautenbach served as Managing Partner of IBM North America Global Business Services. Lautenbach has served in various senior management positions of increasing responsibility, including General Manager, IBM North America; General Manager, IBM Global Small and Medium Business; and Vice President, IBM Asia-Pacific Small and Medium Business. The Pitney Bowes Board also announced Michael Roth, currently Lead Independent Director, has been appointed Non-Executive Chairman of the Board, effective immediately.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Burger chain Shake Shack Inc. said late Thursday that it has priced its initial public offering of 5 million Class A shares at $21 per share, which is above the previously estimated price range of $17 to $19 per share. The shares are expected to begin trading on the New York Stock Exchange on Friday, January 30 under the ticker symbol "SHAK." Google reported a higher fourth-quarter profit, driven by a 15 percent increase in revenues and one-time gains from the sale of Motorola Mobile business, somewhat offset by stock-based compensation expense and foreign exchange losses. Quarterly earnings and revenue missed Wall Street estimates, as ad revenues came under pressure. Online retailer Amazon.com, Inc. said Thursday after the markets closed that its fourth quarter fell 10.5% from last year, as higher expenses more than offset a 15% increase in sales. However, the company's quarterly earnings per share came in well above analysts' expectation, but its quarterly sales fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade PBI now with 
Follow RTT