Pitney Bowes Forms New Global Business Unit to Focus on Market Expansion
Press release from the issuing company
STAMFORD, Conn., March 21, 2001 - Pitney Bowes Inc. (NYSE:PBI) today announced the formation of a focused global business group designed to expand the company's product and service offerings, broaden its customer base and enhance its distribution capabilities in non-traditional areas. The new organization, Information Based Solutions, will focus on developing both existing and new high growth opportunities which leverage Pitney Bowes' strong customer franchise and brand. Broadly, this includes financial and payment services and the small business/SoHo market: groups which rely on information to both create competitive advantage and develop new distribution channels and methodologies to complement Pitney Bowes strong traditional marketing capabilities.
The unit will be led by Matthew S. Kissner, Group President and Chief Venture Development Officer, expanding a portfolio which has included the company's financial services and small business/SOHO operations. Mr. Kissner will continue to report to Michael J. Critelli, Chairman and CEO of Pitney Bowes Inc. "This new organization will focus resources and dedicated strategic thinking to areas of prime growth for Pitney Bowes," said Mr. Critelli. "This change, coupled with January's formation of a new Global Mailing business, positions us well to accelerate growth and leverage our brand and franchise in new areas."
The move encompasses a number of important changes to align resources and accountability around key market sectors and incremental opportunities. In the small business/SoHo market, PitneyWorks (Internet products and services) will merge with Pitney Bowes Office Direct (small office and SOHO mailing solutions) to form Pitney Bowes Small Business Solutions. Accomplishing two key objectives, this move will concentrate the company's Internet and alternate channel marketing expertise on the varied needs of the small business market and will simultaneously create a means to systematically blend new customer acquisition, marketing and management methods back into the core business.
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