Pitney Bowes Names Stanley J. Sutula III Executive Vice President and Chief Financial Officer

Pitney Bowes announced that Stanley J. Sutula III has been named executive vice president and CFO, effective February 1, 2017. Sutula will lead the company's global financial team and investor relations and will report to Marc B. Lautenbach, president and CEO. Sutula will be based in Stamford, Connecticut.

Sutula succeeds Michael Monahan, who will continue with Pitney Bowes as COO. In addition to his existing responsibilities, which include leading the design and deployment of the company's enterprise business platform and overseeing information technology, corporate strategy, corporate development, sales and client operations, procurement, supply chain, and real estate, Monahan also will be responsible for all aspects of Pitney Bowes Global Financial Services, the company's financing, payments, and leasing business. Further, he will assume responsibility for further developing the Pitney Bowes Commerce Cloud across the entire company.

"By adding Stan to the CFO role, which Mike has so ably handled for nearly a decade, Mike will be able to fully dedicate his time to helping me run the company," said Lautenbach. "Mike's role has been and will continue to be as a key partner to me to transform Pitney Bowes."

Sutula joins Pitney Bowes from IBM, where he was vice president and controller responsible for all aspects of accounting and financial functions for the company. He brings to Pitney Bowes an extensive background in finance, accounting, treasury, financial planning and analysis, audit, tax, risk, and compliance.

"I have worked with Stan in the past and can tell you first hand that we are very fortunate to have him join Pitney Bowes," said Lautenbach. "Stan is an incredibly skilled and experienced executive who will be able to transition quickly and have an immediate impact on our business. Throughout his career, he has demonstrated an ability to lead global, corporate and business unit teams while maintaining a focus on serving clients of all sizes."

"I am delighted to be part of Pitney Bowes at this exciting time in the company's history," said Sutula. "Marc has assembled a world-class management team that is making history by leading a major transformation at an iconic company and I am excited to be a part of this effort."

Monahan added, "For the past four years, we have built a foundation for success and we are poised for growth. I am looking forward to continuing to identify ways in which we can leverage our assets across the entire enterprise to deliver greater value to all of our clients. And, with Stan on board, I am confident that we will be able to accelerate our transformation while continuing to unlock value."