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Pitney Bowes Names Former IBM Executive Its New CEO

After 27 years with IBM (NYSE: IBM  ) , Marc B. Lautenbach is taking  over the CEO role at Pitney Bowes (NYSE: PBI  ) effective immediately, according to an announcement today from the latter company. Lautenbach replaces former Pitney Bowes Chairman, CEO, and President Murray Martin, who will temporarily remain in an advisor capacity to assist in the transition. Martin has been with the company 26 years.

Pitney Bowes also announced that Michael Roth has been named non-executive chairman of the board, effective immediately.

Lautenbach's tenure with IBM included leadership of its Small and Medium Business (SMB) unit, in addition to several other leadership roles. Most recently, Lautenbach, 51, led the IBM North America Global Business Services division. Lautenbach has also been appointed to a position on Pitney Bowes' board.

According to Roth, "Marc [Lautenbach] is ideally suited to lead Pitney Bowes, and as the non-Executive Chairman, I look forward to working closely with Marc and the senior management team to execute on our strategy to be a leading provider of customer communications solutions."



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10/27/2016 11:17 AM
PBI $17.52 Down -0.16 -0.90%
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