Shipping and mailing company Pitney Bowes Inc is being pushed to re-evaluate its capital allocation and e-commerce strategy by hedge fund Hestia Capital Partners, according to a report by Reuters.
Shipping and mailing company Pitney Bowes Inc is being pushed to re-evaluate its capital allocation and e-commerce strategy by hedge fund Hestia Capital Partners, according to a report by Reuters.
The report cites unnamed sources as revealing that the Hestia, which owns a 6.9% stake in the company, has already held talks about a raft of changes including the possible sale of the underperforming e-commerce division of the business.
Hestia may also be considering nominating directors for election to Pitney Bowes’ nine-member board with boss Kurt Wolf having reportedly been in contact with six potential candidates, all of whom have held leadership roles at rival firms.
