{"id":745130,"date":"2023-04-04T09:05:48","date_gmt":"2023-04-04T13:05:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\/"},"modified":"2023-04-04T09:05:48","modified_gmt":"2023-04-04T13:05:48","slug":"hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\/","title":{"rendered":"Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignc { margin-left: auto; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nHestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert<\/p>\n<p class=\"bwalignc\"><b><i>Highlights Mr. Rosenzweig\u2019s Strong Track Record as a Public Company CEO, Including Recently Overseeing Total Stockholder Returns of 630% at Support.com, Inc.<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Provides Overview of Full Slate\u2019s Turnaround Plan and Strategy, Which Targets a $15+ Stock Price in the Coming Years and Longer-Term Value Creation for all Stakeholders<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.TransformPBI.com&amp;esheet=53374119&amp;newsitemid=20230404005543&amp;lan=en-US&amp;anchor=www.TransformPBI.com&amp;index=1&amp;md5=fa6c84acb505edf4566df8cecece1f43\">www.TransformPBI.com<\/a> to Obtain Important Information and Voting Resources<\/i><\/b><\/p>\n<p>PITTSBURGH&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nHestia Capital Management, LLC (collectively with its affiliates, \u201cHestia\u201d or \u201cwe\u201d), which is the third largest stockholder of Pitney Bowes, Inc. (NYSE: PBI) (\u201cPitney Bowes\u201d or the \u201cCompany\u201d) and has a beneficial ownership position of 8.4% of the Company\u2019s outstanding common stock, today issued a letter to fellow stockholders from Lance Rosenzweig, who is the firm\u2019s proposed interim Chief Executive Officer and a proven turnaround expert in the ecommerce and technology service industries.<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230404005543\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230404005543\/en\/<\/a><\/p>\n<p>\nHestia is seeking to elect five highly qualified and independent candidates to Pitney Bowes\u2019 nine-member Board of Directors (the \u201cBoard\u201d) at the 2023 Annual Meeting of Stockholders (the \u201cAnnual Meeting\u201d). To maximize the likelihood of a turnaround at Pitney Bowes, we urge you to vote for Hestia\u2019s full slate on the <b><span class=\"bwuline\">WHITE<\/span><\/b> proxy card or <b><span class=\"bwuline\">WHITE<\/span><\/b> voting instruction form. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.TransformPBI.com&amp;esheet=53374119&amp;newsitemid=20230404005543&amp;lan=en-US&amp;anchor=www.TransformPBI.com&amp;index=2&amp;md5=fbeb9b494827ca379a67f71e278f232c\">www.TransformPBI.com<\/a> to download a copy of today\u2019s letter and sign up for future updates.<\/p>\n<p class=\"bwalignc\">\n***<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>A Letter from Hestia\u2019s Interim CEO Candidate, Lance Rosenzweig<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p class=\"bwalignr\">\nApril 4, 2023<\/p>\n<p>\nDear Pitney Bowes Stockholder,<\/p>\n<p>\nI am writing to introduce myself and underscore the importance of this year\u2019s Annual Meeting, where you can vote to elect five Hestia-nominated director candidates that have spent months diagnosing Pitney Bowes\u2019 challenges and developing a turnaround strategy that targets a <span class=\"bwuline\">$15+ stock price in the coming years<\/span>. The Hestia slate believes that immediate changes in leadership and strategy are needed at Pitney Bowes in light of the following:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAn 80% decline in stockholder value over the past eight years;<\/p>\n<\/li>\n<li>\nUnsustainable losses within the Company\u2019s Global Ecommerce (\u201cGEC\u201d) segment;<\/p>\n<\/li>\n<li>\nNo articulated plan to address the $1.7 billion in debt maturing over the next six years;<\/p>\n<\/li>\n<li>\nA \u201cjunk\u201d credit rating following six downgrades by ratings agencies;<\/p>\n<\/li>\n<li>\nA 90% decline in annual cash flow under current management to $51 million in 2022; and<\/p>\n<\/li>\n<li>\nThe prospect of the Company having to cut its dividend, which would punish all stockholders, unless our slate\u2019s proposed strategic changes are made.<\/p>\n<\/li>\n<\/ul>\n<p>\nWhile Pitney Bowes appears to be in critical condition today, I am excited by the prospect of becoming interim Chief Executive Officer and drawing on my turnaround experience to stabilize the organization and set it on a path to long-term value creation. The Company has attractive assets, cash-generating segments, dedicated and talented employees, and a storied brand that can once again be the envy of the mailing and shipping worlds. These will be the pillars of the turnaround strategy (<span class=\"bwuline\">described in more detail below<\/span>) which I intend to help a reconstituted Board implement.<\/p>\n<p><b><i><span class=\"bwuline\">My Background as a CEO and Introduction to Hestia<\/span><\/i><\/b><\/p>\n<p>\nI have spent the past three decades holding executive leadership roles and director positions at public and private companies, including ecommerce and technology businesses needing transformation. I was most recently the Chief Executive Officer of Support.com, Inc. (formerly NASDAQ: SPRT), which delivered total stockholder returns of more than 630% during my tenure. I also served as the Chief Executive Officer of Startek Inc. (NYSE: SRT), where I stabilized a struggling organization with more than 40,000 employees and dramatically improved earnings, and PeopleSupport, Inc. (formerly NASDAQ: PSPT), which I co-founded, built into one of the fastest growing public companies in the U.S. and helped achieve attractive stockholder returns. I also led successful turnarounds as Chief Executive Officer of two private equity-owned companies.<\/p>\n<p>\nI was introduced to Hestia last fall as someone who could provide insight on turning around Pitney Bowes. I independently assessed the firm\u2019s investment thesis throughout the winter before ultimately drawing the same conclusions as Hestia about the need for significant change. I likewise appreciated Hestia\u2019s principles, which focus on maximizing stockholder returns by creating lasting value for customers, employees and all other stakeholders. I concluded that if Hestia felt compelled to seek a change in control of the Board at this year\u2019s Annual Meeting, my background and experience would be well aligned with Pitney Bowes\u2019 most pressing needs.<\/p>\n<p><b><i><span class=\"bwuline\">The Path to Averting Financial Distress and Reaching $15+ Per Share<\/span><\/i><\/b><\/p>\n<p>\nThere is an urgent need for a new, turnaround-centric strategy at Pitney Bowes in light of the $1.7 billion in debt maturing in the next six years and long-term decline in share price. While the current Board is expressing unanimous support for existing management and its cash-burning, \u201cstay the course\u201d strategy, our slate intends to \u201ccourse correct\u201d by placing the Company on a path to profitable growth. This begins with electing all five members of our slate to the Company\u2019s nine-member Board. Absent a change-in-control of the Board, stockholders, employees and other stakeholders will be relying on the same leadership team and strategy that has pushed the Company into significant financial distress, putting both the dividend and upcoming debt obligations at risk.<\/p>\n<p>\nI have worked with Hestia to help assemble an exceptional slate of director candidates with the right expertise and experience to fix Pitney Bowes\u2019 most glaring issues and lay a foundation for long-term success. I have worked closely with our slate and leading experts from the mailing and shipping industries to set the strategic priorities below. The Hestia slate intends to begin executing on these priorities immediately following the Annual Meeting:<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Optimize Corporate Cost Structure<\/b> \u2013 Pitney Bowes\u2019 unallocated corporate expenses, which cover administrative functions, exceeded $200 million in fiscal year 2022. This is an excessive sum given that this $675 million market cap Company\u2019s business segments incur most of their own selling, general and administrative expenses, totaling more than $900 million last year alone. Based on our slate\u2019s analysis, there is a significant opportunity to consolidate, re-engineer and\/or streamline non-essential functions. There is also runway to reduce marketing and other unnecessary spending once the Company is no longer chasing unprofitable growth. I intend to work with the reconstituted Board and the Company\u2019s segment leaders to target at least $50 million in annualized corporate expense reductions during my first 100 days. <b><span class=\"bwuline\">While all of our candidates will bring expertise related to this area, my background and experience are well suited for this important task<\/span>.<\/b><\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Restore GEC to Profitability &amp; Explore Alternatives <\/b>\u2013 GEC had negative EBIT of $100 million for fiscal year 2022, yet again validating that the Board and management\u2019s strategy is not working. I intend to work with Company leaders and the reconstituted Board to dramatically reduce GEC\u2019s cash burn by implementing alternative pricing strategies for unprofitable clients, optimizing the GEC logistics network, narrowing the scope of marketing and focusing on profitable revenues (with a new sales compensation plan aligned with this goal). These steps, among others, can enable GEC to successfully execute a niche strategy that focuses on profitability over sales. Our slate also intends to run a process to explore strategic alternatives that can deliver significant value to the Company in an expedited, yet prudent, manner. A properly reconstituted Board that is not biased by prior leadership\u2019s $1+ billion in GEC-related investments will be best positioned to work with truly independent advisors to review alternatives. <b><span class=\"bwuline\">Todd Everett, who was the Chief Executive Officer of Newgistics, Inc. when it was profitably growing and acquired by Pitney Bowes, will lead this initiative at the Board level<\/span>.<\/b><\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Drive Profitable Growth in SendTech<\/b> \u2013 SendTech generated $1.36 billion in revenue and more than $400 million in EBIT last year. The segment includes a legacy postage meter business, a newer and subscale shipping label software business, and the Pitney Bowes Bank. Our slate sees opportunities to drive enhanced value in all three businesses. The postage meter business, which has 600,000 clients and serves most of the Fortune 500, can benefit from a renewed commitment to outside sales. The shipping business can benefit from stronger organic growth and strategic capability-enhancing acquisitions like improved UI\/workflow and multi-carrier shipping software. Lastly, our slate plans to explore opportunities to unlock restricted cash at Pitney Bowes Bank through internal balance sheet optimization or strategic alternatives. These initiatives would unlock sustainable value and return the segment to profitable growth. <b><span class=\"bwuline\">Katie May, who was Chief Executive Officer of ShippingEasy.com and a director of Stamps.com, brings great industry expertise and her involvement will be critical to developing a plan to accelerate growth in this segment<\/span>.<\/b><\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Maximize Presort EBIT<\/b> \u2013 Presort, which has a leading position in the mail sortation category, generated $602 million in revenue and $82 million in EBIT (a 13% margin) last year. While there may not be a certain path back to the 22% average EBIT levels this segment enjoyed between 2011 and 2017, our slate believes it can significantly improve EBIT margins and return on investment through several initiatives. Alternative pricing models can likely drive several hundred basis points of margin expansion. In addition, tuck-in acquisitions and selective efficiency-enhancing investments can augment the segment\u2019s economies of scale and drive higher earnings. These are the types of steps Pitney Bowes can take if it is not concentrating the vast majority of its resources and capital on GEC. <b><span class=\"bwuline\">I have extensive experience overseeing these types of margin-enhancement initiatives from previous successful turnarounds, and look forward to driving this initiative forward<\/span>.<\/b><\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Address Significant Capital Structure Issues<\/b> \u2013 It is unacceptable that Pitney Bowes, which is a historic brand with strong core segments, has seen its credit rating fall six times over the past decade into deep \u201cjunk\u201d status. It is clear at this point that the Company\u2019s capital structure cannot support its cash-burning strategy. Fortunately, our slate\u2019s focus on halting GEC\u2019s losses and prioritizing Pitney Bowes\u2019 cash-generating segments can lift the Company out of distress. We will quickly chart a path back toward \u201cinvestment\u201d grade credit status through thoughtful debt reduction, which can, and should, be done in partnership with our creditors. <b><span class=\"bwuline\">Milena Alberti-Perez has extensive experience as the Chief Financial Officer of companies facing capital structure issues, and she has already begun identifying opportunities to deleverage the Company, improve its credit rating, and ensure that the dividend can be maintained and potentially increased over the long-term<\/span>.<\/b><\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Ensure the Board Protects and Prioritizes Stockholders <\/b>\u2013 The current Board has a track record of increasing Board interlocks, resisting strategic change and stockholder feedback, and presiding over many years of value destruction. We will take proactive steps to instill a stockholder-first, rather than management-first, philosophy in the boardroom. Our slate plans to significantly improve corporate governance by taking steps that include empowering stockholders to call special meetings and act by written consent, reducing director interlocks and requiring transparent disclosure of any potential conflicts of interest. Additionally, our slate is committed to maintaining a value-additive corporate social responsibility program that keeps Pitney Bowes strong in areas like human capital management and sustainability. <b><span class=\"bwuline\">Kurt Wolf, who is the beneficial owner of 8.4% of Pitney Bowes and has successfully advocated for stockholders in other boardrooms, will position a reconstituted Board to refocus on stockholders\u2019 long-term interests<\/span>.<\/b><\/li>\n<\/ul>\n<p>\nI am excited to share this high-level overview of our slate\u2019s vision, which will be laid out in much greater detail this month. I believe that focusing on these priorities, among others, will result in reduced debt, increased cash flows and earnings, and a significantly higher valuation. We will also focus on healing the organization and rebuilding trust with non-stockholder constituencies, including employees, customers, creditors and ratings agencies. Our initiatives will create stability and make the Company an attractive destination for a permanent Chief Executive Officer, which the reconstituted Board will recruit to take over once pressing issues are triaged.<\/p>\n<p>\nThank you in advance for your consideration, and I hope to have the opportunity to engage with you once our slate issues its detailed transition and strategy presentation next week. Please vote to elect all five of the Hestia slate of highly qualified, independent director candidates to the Company\u2019s nine-member Board at the 2023 Annual Meeting of Stockholders.<\/p>\n<p>\nSincerely,<br \/>\n<br \/>Lance Rosenzweig<\/p>\n<p class=\"bwalignc\">\n***<\/p>\n<p><b><span class=\"bwuline\">About Hestia Capital<\/span><\/b><\/p>\n<p>\nHestia 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&#8217;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 &#8216;price dislocations&#8217; which allows Hestia to identify, and invest in, highly attractive risk\/reward investment opportunities.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230404005543r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230404005543\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230404005543\/en\/<\/a><\/span><\/p>\n<p>\nSaratoga Proxy Consulting LLC<br \/>\n<br \/>John Ferguson \/ Joe Mills, 212-257-1311<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:info@saratogaproxy.com\">info@saratogaproxy.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Professional Services Asset Management Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert Highlights Mr. Rosenzweig\u2019s Strong Track Record as a Public Company CEO, Including Recently Overseeing Total Stockholder Returns of 630% at Support.com, Inc. Provides Overview of Full Slate\u2019s Turnaround Plan and Strategy, Which Targets a $15+ Stock Price in the Coming Years and Longer-Term Value Creation for all Stakeholders Visit www.TransformPBI.com to Obtain Important Information and Voting Resources PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; Hestia Capital Management, LLC (collectively with its affiliates, \u201cHestia\u201d or \u201cwe\u201d), which is the third largest stockholder of Pitney Bowes, Inc. (NYSE: PBI) (\u201cPitney Bowes\u201d or the \u201cCompany\u201d) and has a beneficial ownership position of 8.4% of the Company\u2019s outstanding common &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-745130","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert Highlights Mr. Rosenzweig\u2019s Strong Track Record as a Public Company CEO, Including Recently Overseeing Total Stockholder Returns of 630% at Support.com, Inc. Provides Overview of Full Slate\u2019s Turnaround Plan and Strategy, Which Targets a $15+ Stock Price in the Coming Years and Longer-Term Value Creation for all Stakeholders Visit www.TransformPBI.com to Obtain Important Information and Voting Resources PITTSBURGH&#8211;(BUSINESS WIRE)&#8211; Hestia Capital Management, LLC (collectively with its affiliates, \u201cHestia\u201d or \u201cwe\u201d), which is the third largest stockholder of Pitney Bowes, Inc. (NYSE: PBI) (\u201cPitney Bowes\u201d or the \u201cCompany\u201d) and has a beneficial ownership position of 8.4% of the Company\u2019s outstanding common &hellip; Continue reading &quot;Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-04T13:05:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230404005543r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert\",\"datePublished\":\"2023-04-04T13:05:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/\"},\"wordCount\":2185,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230404005543r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hestia-capital-issues-letter-to-pitney-bowes-stockholders-from-lance-rosenzweig-its-proposed-interim-ceo-and-a-proven-turnaround-expert\\\/\",\"name\":\"Hestia Capital Issues Letter to Pitney Bowes Stockholders from Lance Rosenzweig, its Proposed Interim CEO and a Proven Turnaround Expert - 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