Pitney Bowes Names COO As New CEO
Pitney Bowes Inc. announced Monday that it will shift its top leaders, naming a new chief executive officer and adding him to the company's board.
Murray D. Martin, the current president and chief operating officer, takes over as president and CEO on May 14.
Current Chairman and Chief Executive Officer Michael J. Critelli will assume the newly created spot of executive chairman, the company said in a statement.
Pitney Bowes, which makes postage meters and mailing equipment, said the changes will help it continue to grow in the changing environment brought on by recent postal-reform legislation.
Critelli has been CEO for 11 years.
Martin has been president and chief operating officer since 2004. He previously was executive vice president and group president of Global Mailstream Solutions, the company's core mail finishing, production and shipping business.
Pitney Bowes, with $5.7 billion in annual revenue, has more than 35,000 employees worldwide.
Shares of Pitney Bowes rose 12 cents to close at $45.30 on the New York Stock Exchange.
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