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  "docSlug": "jarvis-hestia-pitney-bowes-presentation-april-2023",
  "documentTitle": "Hestia Pitney Bowes Presentation April 2023",
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  "presentationDate": "2023-04-01 00:00:00",
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  "notes": "Uses a photo of the CEO golfing to undermine his professional reputation.",
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      "kind": "callout",
      "text": "Incumbent Board’s complete failure to hold the long tenured CEO accountable is insulting to Pitney Bowes’ employees and stockholders.",
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      "text": "Mr. Lautenbach, GlenArbor 2021 Senior Champion",
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      "text": "Incumbent Board claims the compensation structure is “strongly linked to Company and/or stock performance.”\nHowever, the same Board has lavished fellow board member and CEO Mr. Lautenbach with $66 million in total compensation.\nIn fact, days after Pitney Bowes reported weak results and its stock dropped nearly 20% in February 2022, Mr. Lautenbach was golfing during the work week in California, reinforcing his reputation as a frequent “working hour golfer.”\nTo allow Mr. Lautenbach’s pay to be so high with such poor performance suggests that the incumbent Board did not understand what was happening to the business.",
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      "text": "The incumbent Board has failed to hold the CEO accountable for years of poor performance at the expense of the Company’s stockholders.",
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      "kind": "source-note",
      "text": "Source: Company filings; GlenArborClub.com.",
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      "kind": "title",
      "text": "Governance Lapse #8: Poor Supervision of Management",
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