Pitney Bowes Appoints Marc B. Lautenbach as President and Chief Executive Officer

  Pitney Bowes Appoints Marc B. Lautenbach as President and Chief Executive
  Officer

  27-Year IBM Veteran Brings Extensive Experience and Proven Track Record in
                             Technology Services

Murray D. Martin to Retire as Chairman, President and Chief Executive Officer;
                 Michael I. Roth Named Non-Executive Chairman

Business Wire

STAMFORD, Conn. -- December 03, 2012

Pitney Bowes Inc. (NYSE: PBI) today announced that the Pitney Bowes Board of
Directors has appointed Marc B. Lautenbach as President and Chief Executive
Officer, effective immediately. Mr. Lautenbach joins Pitney Bowes with nearly
30 years of experience in the technology and business services industry,
having served in senior leadership positions at IBM (NYSE: IBM).

Marc Lautenbach is the newly-named President and CEO of Pitney Bowes Inc.
(Photo: Business Wire)

Marc Lautenbach is the newly-named President and CEO of Pitney Bowes Inc.
(Photo: Business Wire)

Mr. Lautenbach succeeds Murray D. Martin, who is retiring as the company’s
Chairman, President and Chief Executive Officer and has resigned from the
company’s board of directors. Mr. Martin will continue to work with Mr.
Lautenbach on an effective transition.

The Pitney Bowes Board also announced today that Michael I. Roth, currently
Lead Independent Director, has been appointed Non-Executive Chairman of the
Board, effective immediately. Mr. Lautenbach has also been appointed to the
company’s Board, effective immediately. With these changes, the Pitney Bowes
Board of Directors includes 13 individuals, 12 of whom are independent.

At different stages of his 27-year career at IBM, Mr. Lautenbach oversaw the
small- and medium-size (SMB) customer segment. In addition, as the executive
responsible for sales in the Americas, he has had substantial experience in
the enterprise and federal government segments. Most recently, Mr. Lautenbach
served as Managing Partner of IBM North America Global Business Services. Mr.
Lautenbach has served in various senior management positions of increasing
responsibility, including General Manager, IBM North America; General Manager,
IBM Global Small and Medium Business; and Vice President, IBM Asia-Pacific
Small and Medium Business.

“The Board is pleased to welcome Marc to Pitney Bowes as the company’s next
President and CEO,” said Mr. Roth. “Marc is a successful leader and manager,
with a proven track record within the technology and business services
industry in the SMB and Enterprise segments, as well as in transforming
businesses, both within IBM and for its customers. During his tenure at IBM,
Marc developed a reputation for delivering consistent results while assisting
companies to reach their full potential. This experience is of critical
importance to Pitney Bowes at this important time of change for our company
and our industry. The Board is confident that Marc 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.”

Mr. Roth continued, “On behalf of the Board, I want to thank Murray for his
dedication and many outstanding contributions in his 26 years with the
company. Under his leadership, Murray has overseen numerous acquisitions, many
major technological innovations and strategic initiatives to streamline the
business and focus on high growth opportunities. The Board appreciates his
ongoing support and we wish Murray the best in his retirement.”

Mr. Martin said, “I am proud to have been a part of Pitney Bowes’ growth and
evolution since joining the company in 1987. I believe Marc has the right
background and experience to lead Pitney Bowes forward, and to execute on the
initiatives necessary to drive future growth and value creation for
shareholders.”

Mr. Lautenbach stated, “It is an honor to lead Pitney Bowes, a company with a
long and proud history. I view this as a time of great opportunity to build an
even stronger future for the company with its valuable portfolio of innovative
products and solutions, strong customer relationships and a team of deeply
talented and devoted employees around the world. I look forward to working
with the Board of Directors, executive team, and all Pitney Bowes employees to
enhance the company’s market position and accelerate our transformation for
future growth and success for the benefit of all stakeholders.”

The company reiterated the guidance it provided on November 1, 2012, and
anticipates 2012 guidance for:

  *Revenue, excluding the impacts of currency, to remain in a range of flat
    to a decline of 4 percent when compared to 2011;
  *Adjusted earnings per diluted share from continuing operations to be in
    the range of $1.95 to $2.15;
  *GAAP earnings per diluted share from continuing operations to be in the
    range of $1.78 to $2.08; and
  *Free cash flow to be in the range of $750 million to $850 million.

About Marc B. Lautenbach

In his role as Managing Partner of IBM North America Global Business Services,
Mr. Lautenbach (51) was responsible for the consulting and systems integration
business, overseeing professionals globally.

Previously, as General Manager, IBM North America, Mr. Lautenbach led the IBM
sales and distribution operations in the U.S., Canada and Latin America. Prior
to that, Mr. Lautenbach was General Manager, IBM Global Small and Medium
Business, with responsibility for all of IBM’s efforts in support of small and
medium businesses worldwide, including strategy, offering and channel
development, and marketing and sales. In addition, Mr. Lautenbach was
appointed to IBM’s Worldwide Management Committee in 2001, and then to the
Performance Team and the Integration and Values Team in 2006.

Mr. Lautenbach graduated Phi Beta Kappa, magna cum laude from Denison
University and also earned an M.B.A. from The Kellogg Graduate School of
Management, Northwestern University.

About Michael I. Roth

Mr. Roth has served on the Pitney Bowes Board of Directors since 1995 and as
Lead Independent Director since February 2012. Mr. Roth is Chairman and Chief
Executive Officer of The Interpublic Group of Companies, Inc., a global
marketing communications and marketing services company. Mr. Roth is also a
director of Ryman Hospitality Corporation and The Interpublic Group of
Companies, Inc.

About Pitney Bowes

Pitney Bowes provides technology solutions for small, mid-size and large firms
that help them connect with customers to build loyalty and grow revenue.The
company’s solutions for financial services, healthcare, legal, nonprofit,
public sector and retail organizations are delivered on open platforms to best
organize, analyze and apply both public and proprietary data to two-way
customer communications. Pitney Bowes is the only firm that includes direct
mail, transactional mail, call centers and in-store technologies in its
solution mix along with digital channels such as the Web, email, live chat and
mobile applications. Pitney Bowes is a $5.3 billion company with 29,000
employees worldwide. Pitney Bowes: Every connection is a new opportunity™.

The guidance discussed above regarding future results are inherently subject
to unforeseen risks and developments. As such, discussions about the business
outlook should be read in the context of an uncertain future, as well as the
risk factors identified in the safe harbor language at the end of this release
and as more fully outlined in the Company's 2011 Form 10-K Annual Report and
other reports filed with the Securities and Exchange Commission.

This document contains “forward-looking statements” about our expected or
potential future business and financial performance. For us forward-looking
statements include, but are not limited to, statements about our future
revenue and earnings guidance and other statements about future events or
conditions. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that could cause actual
results to differ materially from those projected. These risks and
uncertainties include, but are not limited to: mail volumes; the uncertain
economic environment; timely development, market acceptance and regulatory
approvals, if needed, of new products; fluctuations in customer demand;
changes in postal regulations; interrupted use of key information systems;
management of outsourcing arrangements; foreign currency exchange rates;
changes in our credit ratings; management of credit risk; changes in interest
rates; the financial health of national posts; and other factors beyond our
control as more fully outlined in the Company's 2011 Form 10-K Annual Report
and other reports filed with the Securities and Exchange Commission. Pitney
Bowes assumes no obligation to update any forward-looking statements contained
in this document as a result of new information, events or developments.

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Contact:

Pitney Bowes Inc.
Editorial:
Matthew Broder, 203-351-6347
VP, External Communications
matthew.broder@pb.com
or
Financial:
Charles F. McBride, 203-351-6349
VP, Investor Relations
or
Website:
www.pb.com
 
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