Pitney Bowes appoints Kurt Wolf as CEO, announces strategic actions

Pitney Bowes (PBI) has appointed sitting director Kurt Wolf as the company’s CEO, effective immediately. Wolf succeeds Lance Rosenzweig, who is retiring from his CEO and director roles to become a consultant to the company. The company also intends to repurchase $150M in shares in 2025. This amount represents the entirety of the Board’s share repurchase authorization. The Board expects to establish another share repurchase authorization once the existing one is exhausted. The company also intends to continue evaluating increases to its dividend. Furthermore, the company is now on track to achieve its 3.0x adjusted leverage ratio target by the end of Q2, a quarter sooner than previously announced and without needing to retire additional debt. Wolf and relevant members of leadership will conduct a comprehensive strategic review over the remainder of 2025 supported by independent advisors to produce a clear strategy for maximizing the value of the businesses for shareholders and other stakeholders. Under Wolf, Pitney Bowes will establish a new Executive Planning Group which will primarily focus on ensuring each of Pitney Bowes’ individual businesses has the access, resources and support necessary to enhance cash flow, profitability, and service for the company’s clients and government partners.