Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides digital shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it is initiating the second phase of its strategic review process. This phase will involve the Company’s Board of Directors (the "Board") and its newly formed Strategic Review Committee (the "Committee") working with independent advisors to assess leadership's existing value creation plan relative to a full range of strategic alternatives, including acquisitions, divestitures, partnerships, and a full sale. The Committee is comprised of the Board’s independent members.
Pitney Bowes has not set a definitive timetable or deadline for completing the second phase of its strategic review. The Company does not intend to make additional statements regarding this phase unless the Board determines further communication is appropriate or necessary.
There can be no assurance that the strategic review will result in any change in strategy or a transaction. In the meantime, management will remain focused on executing and implementing its existing strategy and value creation plan.
The Board has selected BofA Securities and Goldman Sachs & Co. LLC as its financial advisors and Sullivan & Cromwell as its legal advisor.