The global shipping and mailing specialist has announced that executive vice president and group president Jason Dies has been appointed interim CEO while a search process gets underway to find a permanent replacement.

Dies has worked at the group since 2015.

“Mr Dies will focus on accelerating corporate cost optimization and related restructuring efforts while also working with the leaders of SendTech, Presort and Global Ecommerce to identify actionable opportunities to strengthen performance and market positioning,” Pitney Bowes said.

The changes have resulted in speculation that Pitney Bowes could hoist a ‘for sale’ sign over its loss-making Global Ecommerce wing, something a number of investors have called for, as well as calling for Lautenbach to go.

Lautenbach stated: “It has been an honor and a privilege to lead this iconic company for over a decade. As proud as I am of what has been accomplished, I am particularly proud of our team, who has always been guided by our ‘true north’ – our value of doing the right thing the right way. I am confident that this value will continue to guide our company’s journey going forward.”

Pitney Bowes had sales of $3.5bn (£2.86bn) last year. In its annual report, it described the Global Ecommerce operation as a “strategic necessity for how we navigate and succeed in the present, with tremendous promise ahead.”

Global Ecommerce had sales of nearly $1.58bn, but racked up a $100m EBIT loss (prior year loss: $98m).