Pitney Bowes Announces New Executive Leadership Roles
Murray D. Martin Appointed President and Chief Executive Officer; Michael J. Critelli Named Executive Chairman
STAMFORD, CT—03/19/07—Pitney Bowes Inc. (NYSE: PBI) today announced a new executive leadership structure to position the company for continued growth in a changing environment. Effective May 14th, Murray D. Martin, the company’s President and Chief Operating Officer, will become President and Chief Executive Officer. Michael J. Critelli, the company’s Chairman and Chief Executive Officer, will assume the newly created position of Executive Chairman. Effective immediately, Mr. Martin also is appointed to the company’s Board of Directors.
As CEO, Martin will assume full strategic and operational responsibility for the company, overseeing its overall performance with a focus on sustaining increased shareholder, customer and employee value. In his new role, Critelli will lead the company’s focus on emerging opportunities in the external environment, including postal reform and transformation in the U.S. and globally, and market opportunities arising from the company’s innovation and leadership in areas such as health care, government services, and corporate social responsibility. He will also concentrate on building upon the company’s already strong position in corporate governance.
The passage of the landmark postal reform legislation in the U.S. helped set the stage for this leadership transition, according to Critelli. “I am pleased that the Board agreed that the time is right to evolve our leadership structure, given both our progress in expanding the business, and the emerging opportunities in the global postal and public policy environment. They also agreed that Murray is the right person to lead our company forward and maintain the momentum of our expanding business given his track record of success in our markets and our strong partnership.
“During my 11 year-tenure as CEO, we have transformed into a stronger, more resilient enterprise capable of delivering consistent growth and profitability. The passage of postal reform marked the culmination of over 10 years of effort, as I led an industry-wide focus on creating an environment more favorable to the future of mail. Though the legislation lays the necessary foundation in the U.S., it will require a concentrated effort worldwide to shape new opportunities and deliver value as a result of these changes. That is why at this juncture in the company’s history, I believe that I can drive more long-term shareholder and customer value by concentrating on fewer, more focused initiatives.”