Kurt Wolf of Hestia to take over as CEO at Pitney Bowes - Bloomberg

Investing.com -- Kurt Wolf, the head of Hestia Capital Management, is set to become the chief executive officer of Pitney Bowes Inc (NYSE: PBI )., a shipping services provider, according to Bloomberg, citing sources familiar with the matter. The announcement comes roughly two years after Wolf and other representatives from Hestia, an activist investor, secured seats on the company’s board.

Wolf is anticipated to assume the CEO position of the Stamford, Connecticut-based company as early as Wednesday, taking over from Lance Rosenzweig. In 2023, Wolf, along with three other nominees from Hestia, earned a place on the Pitney Bowes board.

Wolf’s role on the board included chairing the value enhancement committee. This committee was responsible for overseeing plans to reduce expenses, manage debt, and sell off non-essential assets. Additionally, Wolf has assisted Pitney Bowes in retaining a bank to handle its debt refinancing and determining how to bring overseas cash back to the US, according to the same sources.

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