Matt Swope's questions to Pitney Bowes Inc (PBI) leadership • Q2 2025
Question
Matt Swope of Robert W. Baird & Co inquired about the rationale behind recent CEO and CFO changes, the expected tenure of the new leadership, whether personal or Hestia shares were sold into the buyback, and the strategy for refinancing debt and managing future leverage levels.
Answer
CEO Kurt Wolf and CFO Paul Evans addressed the questions. Wolf stated the CFO change was an opportunity to bring in a talent like Evans, with whom he has a strong working relationship. Both executives affirmed their long-term commitment to their roles. Wolf noted no Form 4s have been filed, indicating no personal shares were sold into the buyback. Regarding debt, Evans explained they are evaluating all refinancing options and that while they believe the company could handle leverage above 3.0x, they are currently being sensitive to market perceptions.