Pitney Bowes Names Stanley J. Sutula III Executive Vice President and Chief Financial Officer
Thursday, December 15, 2016
Press release from the issuing company
STAMFORD, Conn. - Pitney Bowes, a global technology company providing innovative technology solutions to power commerce, today announced that Stanley J. Sutula III has been named Executive Vice President and Chief Financial Officer (CFO), effective February 1, 2017. Mr. Sutula will lead the Company’s global financial team and investor relations and will report to Marc B. Lautenbach, President and Chief Executive Officer. Mr. Sutula will be based in Stamford, Connecticut.
Mr. Sutula succeeds Michael Monahan, who will continue with Pitney Bowes as Chief Operating Officer. In addition to his existing responsibilities, which include leading the design and deployment of the Company’s enterprise business platform -- the most significant transformational project in the past two decades -- and overseeing information technology, corporate strategy, corporate development, sales and client operations, procurement, supply chain and real estate, Monahan also will be responsible for all aspects of Pitney Bowes Global Financial Services, the Company’s financing, payments and leasing business. Further, he will assume responsibility for further developing the Pitney Bowes Commerce Cloud across the entire company.
“By adding Stan to the CFO role, which Mike has so ably handled for nearly a decade, Mike will be able to fully dedicate his time to helping me run the company,” said Mr. Lautenbach. “Mike’s role has been and will continue to be as a key partner to me to transform Pitney Bowes.”
Mr. Sutula joins Pitney Bowes from IBM, where he was Vice President and Controller responsible for all aspects of accounting and financial functions for the company. He brings to Pitney Bowes an extensive background in finance, accounting, treasury, financial planning and analysis, audit, tax, risk, and compliance.
“I have worked with Stan in the past and can tell you first hand that we are very fortunate to have him join Pitney Bowes,” said Lautenbach. “Stan is an incredibly skilled and experienced executive who will be able to transition quickly and have an immediate impact on our business. Throughout his career, he has demonstrated an ability to lead global, corporate and business unit teams while maintaining a focus on serving clients of all sizes.”
Mr. Sutula has nearly 20 years of financial management experience. He joined IBM in 1998, and has held several leadership positions in the United States and in Europe in accounting and financial strategy, including cost management, capital allocation, balance sheet finance, accounting and planning. Most recently, Sutula was Vice President and Controller at IBM. As IBM’s Controller, he managed a finance function with more than 200 finance executives worldwide. Before that, he was Vice President and Treasurer for the company responsible for global balance sheet with more than $118 billion of assets and $12 billion of Free Cash Flow.
“I am delighted to be part of Pitney Bowes at this exciting time in the Company’s history,” said Mr. Sutula. “Marc has assembled a world-class management team that is making history by leading a major transformation at an iconic company and I am excited to be a part of this effort.”
Mike Monahan added, “For the past four years, we have built a foundation for success and we are poised for growth. I am looking forward to continuing to identify ways in which we can leverage our assets across the entire enterprise to deliver greater value to all of our clients. And, with Stan on board, I am confident that we will be able to accelerate our transformation while continuing to unlock value.”
Mr. Sutula graduated from Northeastern University in Boston, Mass., with a Bachelor of Science in Finance and Management and received his Masters of Business Administration in Finance from Fordham University in New York.
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