Pitney Bowes Inc. (NYSE: PBI) has announced the election of Brent Rosenthal as its new independent Chair, succeeding Milena Alberti-Perez. Alberti-Perez, who has been serving as the independent Chair and prior to that as a highly engaged independent director, has decided to step down from the Pitney Bowes Board to focus on new opportunities within the media sector and adjacent industries.
Brent Rosenthal, the newly elected independent Chair, brings with him more than 30 years of experience in technology, media, and telecom companies. He is the Founder of Mountain Hawk Capital Partners, LLC, an investment fund focused on small and microcap equities, and serves on the boards of directors of Horizon Kinetics Corporation (OTC:HKHC), Syntec Optics Holdings, Inc. (NASDAQ:OPTX), and several Puerto Rico closed-end mutual funds, where he is the Lead Independent Director.
During his tenure, Milena Alberti-Perez worked with other independent directors to drive financial changes, operational improvements, and a strategic repositioning of the enterprise. As a result of these efforts, Pitney Bowes has undergone a successful multi-year turnaround and is now described as a stronger and more focused company that is driving greater value for clients, partners, and shareholders.
As for the company's financial performance, Pitney Bowes Inc. is a technology-driven products and services company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, including more than 90 percent of the Fortune 500.
The announcement of the new independent Chair and the departure of Milena Alberti-Perez will be filed with the Securities and Exchange Commission on a Form 8-K.
Following these announcements, the company's shares moved -1.2%, and are now trading at a price of $11.135. For more information, read the company's full 8-K submission here.
