Hestia Capital Management, LLC (collectively with its affiliates, “Hestia” or “we”), which is the third largest stockholder of Pitney Bowes, Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”) and has a beneficial ownership position of 8.5% of the Company’s outstanding common stock, today announced that it has issued a presentation that details the urgent need for boardroom change and opportunity for a sustainable, value-enhancing turnaround. Notably, Hestia’s director candidates have prepared a comprehensive six-pillar plan that targets a $15+ stock price in the coming years, which they believe will also help improve the Company’s credit profile. The six-pillar plan can be viewed at the following link: bit.ly/TransformPitneyBowes.
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As a reminder, Hestia is seeking to elect five highly qualified and independent candidates to Pitney Bowes’ nine-member Board of Directors (the “Board”) at the Annual Meeting of Stockholders (the “Annual Meeting”) on May 9, 2023. To maximize the likelihood of a turnaround at Pitney Bowes, we urge you to vote for Hestia’s full slate on the WHITE universal proxy card or WHITE voting instruction form. Visit www.TransformPBI.com to download a copy of the presentation and sign up for future updates.
About Hestia Capital
Hestia Capital is a long-term focused, deep value investment firm that typically makes investments in a narrow selection of companies facing company-specific, and/or industry, disruptions. Hestia seeks to leverage its General Partner’s expertise in competitive strategy, operations and capital markets to identify attractive situations within this universe of disrupted companies. These companies are often misunderstood by the general investing community or suffer from mismanagement, which we reasonably expect to be corrected, and provide the ‘price dislocations’ which allows Hestia to identify, and invest in, highly attractive risk/reward investment opportunities.
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