Parcel-delivery and technology provider Pitney Bowes Inc. said Monday that President and CEO Marc B. Lautenbach, who had been pressured by a large investor to step down from both roles, has done so, effective immediately.
Jason Dies, who most recently served as the company’s executive vice president and group president, was named interim CEO, Pitney Bowes said, adding that a search is underway for a permanent successor.
Dies has been with the Stamford, Connecticut-based company (NYSE: PBI) since 2015.
Lautenbach, who also resigned his seat on the company’s board, was at the center of a bitter proxy fight involving Hestia Capital Management, which owns more than 9% of Pitney Bowes. Hestia had repeatedly agitated for Lautenbach’s ouster, saying he was responsible for the company’s sagging marketplace and share price fortunes. Lautenbach had been at the helm of Pitney Bowes since 2012.
In May, Pitney Bowes shareholders voted to approve four of the board candidates that Hestia had proposed. The investment firm had initially sought five new board members.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now