Lakeview Issues Open Letter to Pitney Bowes’ Board of Directors Calling for Expeditious Sale of GEC
Lakeview Investment Group & Trading Company, LLC, which beneficially owns approximately 2.55% of the outstanding common shares of Pitney Bowes, Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), today issued the below open letter to the Company’s Board of Directors.
- Lakeview Investment Group & Trading Company, LLC, which beneficially owns approximately 2.55% of the outstanding common shares of Pitney Bowes, Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), today issued the below open letter to the Company’s Board of Directors.
- Lakeview has a record of engaging with boards of directors and management teams to help them improve governance and initiate value-enhancing actions.
- By continuing its pursuit of unprofitable volume and nonexistent scale within GEC, Pitney Bowes continues to burn cash.
- Longer term, we believe the Board should evaluate all strategic alternatives to maximize shareholder value, including a sale of the entire Company.