09:11 AM EDT, 05/22/2024 (MT Newswires) -- Pitney Bowes ( PBI ) said Wednesday that it has appointed Lance Rosenzweig as its interim chief executive officer, with immediate effect.

Rosenzweig succeeds Jason Dies, who has retired, the company said, adding that its reconstituted board will start a new search for a permanent successor.

Additionally, Pitney said it has set up a panel to promptly finalize the strategic review of its global ecommerce business.

The company said that it has hired a consultant to assist with a cost rationalization review and that it has identified an additional $60 million to $100 million in possible annualized annualized cost-savings.

Shares of the company were up nearly 9% in recent Wednesday premarket activity.

Price: 5.66, Change: +0.46, Percent Change: +8.85