Pitney Bowes Appoints John Witek as Interim CFO

By Bobby Samwell • Tuesday, March 19 10:29 • Permanent Link

Pitney Bowes Inc. (NYSE: PBI) has announced the appointment of John Witek as the interim chief financial officer, effective March 19, 2024, following the departure of Ana Maria Chadwick. Witek, who was most recently the head of global business services, brings nearly four decades of corporate finance experience within the business services and information technology sectors. He previously served as the chief financial officer of the company’s SendTech segment from 2019 through 2022.

During his tenure as head of global business services, Witek focused on driving efficiency and transformation throughout the company, with a focus on cost rationalization programs, efficiency measures, and segment profitability improvement. His appointment as interim CFO comes as the company initiates a formal search process for Chadwick’s permanent replacement with recruitment firm Crist Kolder Associates.

In his previous role as CFO of SendTech, Witek brought an intense focus on disciplined capital management and strategic investments in growth adjacencies. His appointment as interim CFO has been endorsed by Jason Dies, the current interim CEO, who highlighted Witek’s recent successes and understanding of the business as key factors for his appointment.

The company has also announced that Chadwick, the former CFO, will remain at the company as an advisor until April 21, 2024, to ensure a seamless transition. Further details regarding this transition will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.

As the company explores new opportunities for capital and operational efficiency, Witek's expertise in optimizing costs and realizing efficiencies is expected to support the company's go-forward goals. Pitney Bowes, a global shipping and mailing company that provides technology, logistics, and financial services, serves small business, retail, enterprise, and government clients worldwide. For the latest news, corporate announcements, and financial results, visit the company's newsroom.

As a result of these announcements, the company's shares have moved -0.5% on the market, and are now trading at a price of $4.02. For more information, read the company's full 8-K submission here.

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