Pitney Bowes Appoints Kurt Wolf CEO, Plans $150M Buyback

Pitney Bowes has appointed Kurt Wolf, a director and founding member of activist investor Hestia Capital Management, as its new CEO, replacing Lance Rosenzweig who will transition to a consultant role. Wolf, who has been instrumental in the company's turnaround and chaired the Value Enhancement Committee, will lead a comprehensive strategic review throughout 2025 aimed at maximizing shareholder and stakeholder value. The company plans to repurchase $150 million worth of shares in 2025, fully utilizing its current share repurchase authorization, with a new program to be introduced thereafter. Pitney Bowes expects to achieve its adjusted leverage ratio target of 3.0x by the end of the second quarter, a quarter earlier than anticipated, without needing to retire additional debt. Wolf's leadership is seen as well-positioned to refine strategy, allocate capital effectively, and support business leaders in improving cash flow, profitability, and client service. Despite mixed analyst price targets and brokerage recommendations, the company reaffirms its full-year financial guidance driven by the strength of its SendTech and Presort businesses.