Out goes Michael Critelli who has held the CEO position for the Stamford, Connecticut-based maker of postage meters and mail-handling systems since 1997.
In steps Murray Martin, who has been promoted from his previous position of president and COO which he has held since 2004.
Martin was group president Pitney Bowes MailStream Solutions, the company’s mail finishing, production and shipping technologies.
Murray will formally take on the CEO and president mantle, and become a board member, on May 14.
Meanwhile Critelli is being shunted to a newly created position of executive chairman.
Pitney Bowes’ stock rose 3 cents to $45.21 on the NYSE yesterday afternoon after Wall Street analysts agreed that Martin was a strong replacement.
Pitney Bowes is a $5.7bn company and has more than 35,000 employees worldwide.
Last week Pitney Bowes bought location-intelligence software firm MapInfo for $408m. The move is part of a strategy to ramp up its customer communications management software business that also includes acquired data quality and profiling technologies from Group 1 Software Inc AMB Dataminers back in 2004.
Pitney Bowes is looking at its software business to get stocking moving upwards rather than sideways, as it has been doing for the past five years. The challenge for Pitney Bowes is that it has traditionally targeted the mail logistics side of businesses and has little experience in managing or analyzing front-end retail customer action.
