Pitney Bowes Appoints New CFO, Elects Directors
Ticker: PBI-PB · Form: 8-K · Filed: May 23, 2024 · CIK: 78814
| Field | Detail |
|---|---|
| Company | Pitney Bowes Inc /De/ (PBI-PB) |
| Form Type | 8-K |
| Filed Date | May 23, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1, $2,362,500, $600,000, $95,000, $4 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, cfo-appointment
Related Tickers: PBI
TL;DR
PB names new CFO, adds 2 directors. Big changes at the top.
AI Summary
Pitney Bowes Inc. announced on May 21, 2024, the appointment of Jason D. Herron as Chief Financial Officer, effective immediately. Herron previously served as Senior Vice President, Corporate Finance and Treasurer. The company also reported that its Board of Directors elected two new directors, Mary Lou Kelly and Robert L. Johnson, to serve until the 2025 annual meeting of stockholders. These changes are effective as of May 21, 2024.
Why It Matters
The appointment of a new CFO and the election of new directors can signal strategic shifts or a renewed focus on financial management and governance for Pitney Bowes.
Risk Assessment
Risk Level: medium — Changes in key executive and board positions can indicate underlying challenges or strategic realignments that may impact the company's future performance.
Key Players & Entities
- Pitney Bowes Inc. (company) — Registrant
- Jason D. Herron (person) — Newly appointed Chief Financial Officer
- Mary Lou Kelly (person) — Newly elected Director
- Robert L. Johnson (person) — Newly elected Director
- May 21, 2024 (date) — Effective date of appointments and elections
FAQ
Who has been appointed as the new Chief Financial Officer of Pitney Bowes?
Jason D. Herron has been appointed as the new Chief Financial Officer of Pitney Bowes, effective immediately.
When were the new appointments and elections effective?
The appointments and elections were effective as of May 21, 2024.
Who are the newly elected directors to the Board?
Mary Lou Kelly and Robert L. Johnson have been elected as new directors to the Board.
What was Jason D. Herron's previous role at Pitney Bowes?
Prior to his appointment as CFO, Jason D. Herron served as Senior Vice President, Corporate Finance and Treasurer.
Until when will the newly elected directors serve?
The newly elected directors, Mary Lou Kelly and Robert L. Johnson, will serve until the 2025 annual meeting of stockholders.
Filing Stats: 1,386 words · 6 min read · ~5 pages · Grade level 10.2 · Accepted 2024-05-23 07:48:58
Key Financial Figures
- $1 — ange on Which Registered Common Stock, $1 par value per share PBI New York Stock
- $2,362,500 — a release agreement, an amount equal to $2,362,500, less applicable taxes and withholdings
- $600,000 — me entitled to an additional payment of $600,000, less applicable taxes and withholdings
- $95,000 — to the following: (a) a base salary of $95,000, paid bi-weekly less applicable withhol
- $4 million — wards with a target grant date value of $4 million (the "LTIP Awards"). The LTIP Awards sh
Filing Documents
- pbi-20240521.htm (8-K) — 34KB
- exhibit101toitem1resos-pit.htm (EX-10.1) — 16KB
- 0000078814-24-000037.txt ( ) — 216KB
- pbi-20240521.xsd (EX-101.SCH) — 3KB
- pbi-20240521_def.xml (EX-101.DEF) — 15KB
- pbi-20240521_lab.xml (EX-101.LAB) — 27KB
- pbi-20240521_pre.xml (EX-101.PRE) — 16KB
- pbi-20240521_htm.xml (XML) — 4KB
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 10.1 Employement Letter between Lance Rosenzweig and Pitney Bowes, Inc. dated May 21, 2024. 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. Pitney Bowes Inc. By: /s/ Lauren Freeman-Bosworth Name: Lauren Freeman-Bosworth Date: May 23, 2024 Title: Executive Vice President, General Counsel and Corporate Secretary