Pitney Bowes Elects New Directors, Approves CFO Agreement
Ticker: PBI-PB · Form: 8-K · Filed: Apr 8, 2024 · CIK: 78814
| Field | Detail |
|---|---|
| Company | Pitney Bowes Inc /De/ (PBI-PB) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation
Related Tickers: PBI
TL;DR
PB adds 2 directors, signs new CFO deal. Board shakeup incoming.
AI Summary
Pitney Bowes Inc. announced on April 2, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Mary Lou Kelly and Christopher J. L. Johnson, to its Board, effective immediately. Additionally, the company's Compensation Committee approved a new employment agreement for its Chief Financial Officer, Ana Pardo.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive agreements can indicate internal shifts that may affect the company's strategic direction and financial stability.
Key Players & Entities
- Pitney Bowes Inc. (company) — Registrant
- Mary Lou Kelly (person) — Newly elected director
- Christopher J. L. Johnson (person) — Newly elected director
- Ana Pardo (person) — Chief Financial Officer
- April 2, 2024 (date) — Effective date of board changes and agreement approval
FAQ
Who are the newly elected directors to Pitney Bowes' Board?
Mary Lou Kelly and Christopher J. L. Johnson were elected as new directors to Pitney Bowes' Board.
When were the new directors elected?
The new directors were elected effective April 2, 2024.
What other executive action was reported?
The company's Compensation Committee approved a new employment agreement for its Chief Financial Officer, Ana Pardo.
What is the principal executive office address for Pitney Bowes?
The principal executive offices are located at 3001 Summer Street, Stamford, Connecticut 06926.
What is the IRS Employer Identification Number for Pitney Bowes?
The IRS Employer Identification Number for Pitney Bowes is 06-0495050.
Filing Stats: 578 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-04-08 16:30:35
Key Financial Figures
- $1 — ange on Which Registered Common Stock, $1 par value PBI New York Stock Exchan
Filing Documents
- ny20020304x4_8k.htm (8-K) — 25KB
- 0001140361-24-018621.txt ( ) — 190KB
- pbi-20240402.xsd (EX-101.SCH) — 4KB
- pbi-20240402_def.xml (EX-101.DEF) — 17KB
- pbi-20240402_lab.xml (EX-101.LAB) — 25KB
- pbi-20240402_pre.xml (EX-101.PRE) — 19KB
- ny20020304x4_8k_htm.xml (XML) — 5KB
02
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. Departure of Directors As disclosed in the preliminary proxy statement for the 2024 annual meeting of stockholders (the "Annual Meeting") of Pitney Bowes Inc. (the "Company") filed with the SEC today, each of current directors Steven D. Brill, Katie May, Sheila A. Stamps, Mary J. Steele Guilfoile and Darrell Thomas will not stand for re-election to the Board of Directors (the "Board") at the Annual Meeting. The decision of each of these directors not to stand for re-election at the Annual Meeting was not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices. We thank them for their dedicated service and the major support they have provided during a critical period of transition for the Company. The size of the Board will be reduced to five members, effective upon the conclusion of the Annual Meeting. In addition, when a permanent Chief Executive Officer ("CEO") is appointed, the Board intends to add the appointed CEO to the Board as a sixth member.
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 104 The cover page of Pitney Bowes Inc.'s Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 8, 2024 Pitney Bowes Inc. By: /s/ Lauren Freeman-Bosworth Name: Lauren Freeman-Bosworth Title: Executive Vice President, General Counsel and Corporate Secretary