Pitney Bowes announced Monday former IBM executive Marc B. Lautenbach has been installed as the president and and chief executive officer of the Stamford-based business technology company.
Pitney Bowes, best known for its mail machinery, has been transitioning into a technology-focused business rolling out software and hardware communication solutions for business customers of multiple sizes.
Lautenbach, who has had a 30-year career at IBM, most recently served as managing partner of IBM North America Global Business Services. He has also held executive positions involving global and Asia-Pacific operations for IBM.
He succeeds Murray D. Martin, who is retiring as Pitney Bowes chairman, president and CEO. Martin has resigned from the company’s board of directors, but will continue to work with Lautenbach on an effective transition.
Shares of Pitney Bowes were up 3.53 percent to $11.61 in early afternoon trading.