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.