For many of his 22 years at pitiney Bowes, including 5 as its president, Marc Breslawsky dreamed of running the $4 billion (sales) mailing systems giant. Instead, he ended up running its ugly stepchild―its distributor of facsimile machines and copiers. While the business accounted for 12% of 2001 revenues, it contributed just 0.7% to the bottom line. Pitney Bowes was all too happy to divest the operation in December in a spinoff to shareholders. Breslawsky was installed as chief executive of the newly dubbed Imagistics International. His consolation prize was 700,000 shares, two-thirds of them options, worth $9 million.
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