Pitney Bowes 2004 Annual Report Download - page 8

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and governance practices. Business Ethics magazine
again ranked Pitney Bowes as one of the “100 Best
Corporate Citizens” for 2004. The company also
obtained an unqualified opinion from
PricewaterhouseCoopers, our independent auditor,
that we are in full compliance with Sarbanes-Oxley
Act Section 404 requirements for internal control.
Our Board of Directors takes corporate governance
most seriously and is
adding significant value
to our strategic,
business and financial
reviews. Building on our
strong foundation, the
Board continuously
monitors emerging best
practices in governance
and adopts those
most appropriate for
Pitney Bowes.
Murray Martin and I
intend to focus on lead-
ership, talent development and improving employee
engagement. I am particularly committed to effective
employee communications. Murray will concentrate
on our strategies and day-to-day implementation
decisions and work to ensure that our vision is real
to employees.
We are proud of our leadership in the area of
diversity. DiversityInc magazine ranked Pitney Bowes
No. 1 on its list of the “Top 50 Companies for
Diversity” and Fortune included us on its list of the
“50 Best Companies for Minorities.” We will take our
efforts in this area to another
level in 2005.
We also believe literacy and
education are building blocks for
community health, individual
success and economic development. We have
created the Literacy and Education Fund to focus
community investments in these areas. The Employee
Involvement Fund oversees grants for employee-
sponsored projects. We are enthusiastic about the
opportunities to build strong partnerships with literacy
and educational organizations in the United States
and worldwide. CONCLUDING
OBSERVATIONS
Looking ahead, our goal
remains to deliver above-
average shareholder value
through both consistent
dividend growth and share
price growth, while main-
taining a low-to-moderate
risk profile. Our goals are
revenue growth in the
range of 4 to 6 percent
and earnings-per-share
growth in the range of
8 to 10 percent.
To achieve these goals, we will reinvest in our core mail
and document management businesses and diversify
into adjacent spaces where opportunities exist.
We do best when we build on our strengths and
evolve at a sustainable pace. We will accelerate
our evolution in 2005 while remaining committed to
our enduring strengths: reliability, trustworthiness,
security and innovation.
I have the highest confidence in the future of our
great company.
6
Michael J. Critelli
Chairman and Chief Executive Officer
The Pitney Bowes Summer Reading Program