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Pitney Bowes Creates Global Mailing Organization

Monday, January 08, 2001

Press release from the issuing company

STAMFORD, Conn., Pitney Bowes Inc. (NYSE: PBI) today announced a strategic consolidation of its international and U.S. mailing businesses into a global organization focused on accelerated growth and shareholder value. Murray Martin, who formerly led the company's international operations, will head the new organization as Executive Vice President and Group President, Global Mailing Systems. Mr. Martin will report to Michael J. Critelli, Chairman and CEO of Pitney Bowes Inc. Customers and shareholders will benefit from this move, according to Mr. Critelli. "When we announced the plan to spin-off our Office Systems business last month, we talked about how the transaction would benefit customers and shareholders by freeing us to focus on growth opportunities in designated markets, while maximizing speed and customer responsiveness. As the next major step in that process, this strategic organizational realignment will enable us to leverage the considerable resources of Pitney Bowes to drive growth around the world and address opportunities at the level and scale required to be first to market and best to market. We will establish broad-based sales and marketing best practices and transfer cutting-edge technological and market innovations worldwide. And last, but certainly not least, we will improve customer support and operational efficiency by developing worldwide manufacturing and sourcing strategies, identifying new opportunities for shared services, and examining our investments and expenses to ensure our cost structure is competitive."




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