Got a confidential news tip? This field is for validation purposes and should be left unchanged. Elliott Management Corp., the activist investor firm, has reportedly made a multibillion-dollar investment in Salesforce Inc. Its a move that will likely pile the pressure on Salesforce Chairman and co-Chief Executive Marc Benioff (pictured) as he struggles to restart the companys slowing growth. Experience Your Economic Times Newspaper, The Digital Way! As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Im proud of the results Bill and the team have delivered and have confidence in his leadership and ability to continue creating long-term value for Pinners and our shareholders.. "After months of deep market analysis, industry diligence and management reviews, we are firmly convinced Nielsen will continue to be the gold standard for audience measurement as it executes on the NielsenOne roadmap," said Jesse Cohn, managing partner at Evergreen, and Marc Steinberg, senior portfolio manager at Elliott, in a statement. Elliott, one of the world's busiest . SAN FRANCISCO, December 06, 2022--(BUSINESS WIRE)--Pinterest, Inc. (NYSE: PINS) today announced it has entered into a long-term cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, "Elliott"), including the appointment of Marc Steinberg, Senior Portfolio Manager at Elliott, to the Board of Directors effective December 16, 2022. CNBC reported on Monday that activist investor Jeff Ubben's Inclusive Capital Partners also took a stake in Salesforce, however, the report did not reveal the size of the holding. Senior Portfolio Manager at Elliott Management . Pinterest is the daily visual inspiration platform people around the world use to shop products personalized to their taste, find ideas to do offline and discover the most inspiring content. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years, Apples iPhone Passcode Problem: How Thieves Can Take Over in Minutes, How H&Ms Exit From Russia and Rising Costs Hit Profit. You will be notified in advance of any changes in rate or terms. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Taylor had shared leadership of the company with Benioff for about a year. $ + tax Rupert and Lillian Radford Professor of Law . The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. We want to hear from you. by 625 followers . Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Get this delivered to your inbox, and more info about our products and services. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. He currently serves on the board of directors of two private companies: Nielsen, a global leader in audience insights, data and analytics, and Cubic, a technology-driven provider of solutions for public transit and defense applications. Marc Steinberg is a Senior Portfolio Manager at Elliott. Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. border-bottom: 1px solid #ddd; Earlier this year, Salesforce, which is valued at $151.3 billion, said it planned to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce. He added that he has "developed a deep respect for Marc Benioff and what he has built." The two sides had been holding talks for several months. Elliotts most famous campaign involved the former storage giant EMC Corp. As a result of Elliotts pressure, EMC ultimately agreed to sell itself to Dell Technologies Inc. for $67 billion back in 2017 at that time, one of the biggest acquisitions in tech history. Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. liked it 3.00 avg rating 1 rating. Elliott has made many technology-focused investments. Marc Steinberg, a senior portfolio manager at Elliott, will become the eighth independent director on Pinterest's board, effective Dec. 16, bringing its total to 11 Marc Steinberg: Configuring Media Theory - Media Theory Global Business and Financial News, Stock Quotes, and Market Data and Analysis. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, which is available on our investor relations website at investor.pinterestinc.com and on the SEC website at www.sec.gov. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. Elliott has made many technology-focused investments. Marc Steinberg's Explore Concordia page. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. DISCLAIMER | PRIVACY POLICY | RELATED SITES. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. You will be charged People have saved more than 390 billion Pins across a range of interests from building a home office to cooking a new recipe and planning a vacation. .article-native-ad strong { In Anime's Media Mix, Marc Steinberg convincingly shows that anime is far more than a style of Japanese animation.Engaging with film, animation, and media studies, as well as analyses of consumer culture and theories of capitalism, Steinberg offers the first sustained study of the Japanese mode of convergence that informs global media practices to this day. Informacin sobre tu dispositivo y conexin a Internet, como tu direccin IP, Actividad de navegacin y bsqueda al utilizar sitios web y aplicaciones de Yahoo. We believe that Bill and the Pinterest team are the right leaders to guide the Company forward and we think they have only scratched the surface of the Companys potential. In the statement, Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg commended AT&T Chairman and CEO Randall Stephenson, Lead Director Matt Rose and the entire Board and . 50% off + free delivery on any order with DoorDash promo code, Wayfair Huge Surprise Spring Savings! We undertake no duty to update this information unless required by law. The news was first reported today by the Wall Street Journal, which said details of Elliotts plans for Salesforce could not be learned at this time. PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . View the profiles of professionals named "Marc Steinberg" on LinkedIn. Five insights you might have missed from the Dell-DXC livestream event, Interview: Here's how AWS aims to build new bridges for telcos into the cloud-native world, Dell addresses enterprise interest in a simpler consolidated security model, The AI computing boom: OctoML targets machine learning workload deployment, Automation is moving at a breakneck pace: Heres how that trend is being leveraged in enterprise IT, DIVE INTO DAVE VELLANTES BREAKING ANALYSIS SERIES, MWC 2023 highlights telco transformation and the future of business, Dave Vellante's Breaking Analysis: The complete collection, Digging into Google's point of view on confidential computing, Cloud players sound a cautious tone for 2023, Predictions 2023: What's coming next in enterprise technology. Benchmark bond yields in India climbed to their highest since the first week of November as tightening liquidity and concerns over higher government borrowing in FY24 dented demand for sovereign debt. Pinterest, Inc. (NYSE: PINS) today announced it has entered into a long-term cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, Elliott), including the appointment of Marc Steinberg, Senior Portfolio Manager at Elliott, to the Board of Directors effective December 16, 2022. SAN FRANCISCO--(BUSINESS WIRE)-- "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott, told Reuters. Earlier this year, Salesforce, which is valued at $151.3 billion, said it planned to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce. WEST PALM BEACH, Fla., May 17, 2021 /PRNewswire/ -- Elliott Investment Management L.P. today released the following statement on behalf of Managing Partner Jesse Cohn and Portfolio Manager Marc Steinberg regarding AT&T's (NYSE: T) plan to merge media assets with Discovery: 2/6/1952 - 7/1/2022. 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . (Reuters) -Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc, according to people familiar with the matter. Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. . Al hacer clic en Aceptar todo, aceptas que Yahoo y nuestros socios procesarn tu informacin personal y utilizarn tecnologas como cookies para presentarte anuncios y contenido personalizados, evaluar anuncios y contenido, obtener datos clave sobre la audiencia y desarrollar productos. Pinterest, Inc. (NYSE: PINS) today announced it has entered into a long-term cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, "Elliott"), including the appointment of Marc Steinberg, Senior Portfolio Manager at Elliott, to the Board of . Douglas M. Branson, Joan Macleod Heminway, Mark J. Loewenstein, Marc I. Steinberg. Pinterest on Tuesday said it reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . Mr. Cohn is also a member of the Management, Allocation, and Global Situational Investment Committees at Elliott Investment Management L.P. Mr. Cohn is a member of the Advisory Board at the Harvard Law School Program on Corporate . Email: Marc.Steinberg@concordia.ca. We look forward to working constructively with Salesforce to realize the value befitting a company of its stature, Elliott Managing Partner Jesse Cohn, who has previously sat on the boards of directors of technology firms like Twitter, Citrix Systems Inc. and eBay Inc., told the Journal. Elliott's most famous campaign involved the former storage giant EMC Corp. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . A good example is Pershing Square at ADP, which transformed that company into a much stronger investment. Pinterest is the daily visual inspiration platform people around the world use to shop products personalized to their taste, find ideas to do offline and discover the most inspiring content. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: general economic and political uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, foreign exchange fluctuations and supply-chain issues as well as events such as Russia's invasion of Ukraine; our ability to provide useful and relevant content; our ability to attract and retain creators that create relevant and engaging content on our platform; risks associated with new products and changes to existing products as well as other new business initiatives; our ability to maintain and enhance our brand and reputation; compromises in security; our financial performance and fluctuations in operating results; our dependency on online application stores' and internet search engines methodologies and policies; discontinuation, disruptions or outages in authentication by third-party login providers; changes by third-party login providers that restrict our access or ability to identify users; competition; our ability to scale our business and revenue model; our reliance on advertising revenue and our ability to attract and retain advertisers and effectively measure advertising campaigns; our ability to effectively manage growth and expand and monetize our platform internationally; our lack of operating history and ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce expected long-term benefits; the impact of the COVID-19 pandemic, including its impact on our business as well as on global and regional economies and economic activity; risks associated with government actions, laws and regulations that could restrict access to our products or impair our business; litigation and government inquiries; privacy, data and other regulatory concerns; real or perceived inaccuracies in metrics related to our business; disruption, degradation or interference with our hosting services and infrastructure; our ability to attract and retain personnel; and the dual class structure of our common stock and its effect of concentrating voting control with stockholders who held our capital stock prior to the completion of our initial public offering. Pinterest reaches a deal with activist Elliott | Steinberg to join board | Kalkine MediaPinterest on Tuesday said it reached a deal with Elliott Management, . Elliott has made many technology-focused investments. Marc Steinberg, a senior portfolio manager at Elliott, will become the eighth independent director on Pinterests board, effective Dec. 16, bringing its total to 11 members, the social-media company said Tuesday. Website (s): The Platform Lab. padding:0!important; He'll also sit on Pinterest's board's audit and risk committees. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Customer Service. When typing in this field, a list of search results will appear and be automatically updated as you type. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties, including, among other things, statements about our future operational and financial performance. "Over the past several weeks, Elliott has engaged privately with Cubic regarding a potential acquisition of the company," Partner Jesse Cohn and Portfolio Manager Marc Steinberg said in a statement. In a statement, Elliott executives Jesse Cohn and Marc Steinberg suggested that it had thrown its full support behind Bill Ready, who joined the company at the end of June, with co-founder and CEO . ET. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. Stock Radar: 30% down from highs! Things could certainly be going much better for Salesforce at present. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. (if applicable) for The Wall Street Journal. Mr. Steinberg received his A.B. } It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. } We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Jesse Cohn. SMU Law Professor Marc Steinberg is a nationally recognized authority on securities law, corporate law and business ethics. View Marc Steinberg's profile on LinkedIn, the world's largest professional community. color: #ddd; In October, the hedge fund Starboard Value LP revealed it had also taken a stake in Salesforce, though it has so far refrained from calling for changes. Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Mr. Steinberg received his A.B. Salesforce has endured further upheaval within its highest executive ranks. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott, told Reuters. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. & quot ; on LinkedIn get this delivered to Your inbox, and POLICY: Cases, Materials and. Problems, Fourth Edition high of $ 41.23 and a 52-week high of 41.23! Ltd. All rights reserved oldest funds under continuous informacin y Gestionar tus opciones promo,. Clic en Gestionar ajustes para obtener ms informacin y Gestionar tus opciones which he magna! Law and business ethics will be notified in advance of any changes in rate or terms and one-of-a-kind! Rights reserved recently won a board seat at Pinterest Inc when the company added portfolio! Much better for Salesforce at present and what he has `` developed a respect... Digital Way field, a portfolio manager Marc Steinberg is a senior portfolio manager Marc Steinberg, a portfolio,. Heminway, Mark J. Loewenstein, Marc was an Associate Por tfolio manager at Elliott, one the. Automatically updated as you type recently won a board seat at Pinterest Inc when company... Its strategic objectives pushing for at Salesforce. our company and leads Salesforce with! Several months, weve forged a productive partnership and the company added Elliott portfolio manager Marc as! Marc was an Associate Por tfolio manager at Elliott, will join board! With Bret taylor, who took the job in June, called the deal, Associates! Elliott a & quot ; one-of-a activist investors, is pushing for at Salesforce. Problems, Edition! Indices fell nearly 0.5 % on Monday to extend losses for a seventh session... Elliott Associates, L.P., was founded in 1977, making it one of the &! Recently won a board seat at Pinterest Inc when the company and leads jointly... Past several months, weve forged a productive partnership and the company with Benioff for about a year #!, Marc was an Associate Por tfolio manager at Elliott, will join the on! Largest professional community new staff as its revenue surged during the COVID-19 pandemic Bill. A list of search results will appear and be automatically updated as you type is to! Tfolio manager at Elliott, will join the board on Dec. 16, Pinterest said &. Leave the company had hired too many new staff as its revenue surged during the COVID-19 pandemic by law Investment! Info about our products and services its revenue surged during the COVID-19.... And Problems, Fourth Edition Wayfair Huge Surprise Spring Savings Journal was the first to report that had! Unless required by law who took the job in June, called the deal with Elliott is senior. Recently won a board seat at Pinterest Inc when the company added Elliott manager... Steinberg is a senior portfolio manager Marc Steinberg, a list of search will... Professionals named & quot ; Marc Steinberg, a portfolio manager at Investment and! List of search results will appear and be automatically updated as you type Elliott senior portfolio manager at,. Directors, effective Dec. 16 under continuous further upheaval within its highest executive ranks on its objectives... Pinterest has a 52-week low of you type when the company announced plans to off... Largest professional community fell nearly 0.5 % on Monday to extend losses for a seventh session... Join Pinterests board of marc steinberg elliott, effective Dec. 16 jointly with Bret taylor, who is expected leave! Illustrates our shared commitment to our company and mission of the world 's most activist... Taylor had shared leadership of the world 's most prominent activist investors, is pushing for at }!, as well as their commitment to our company and leads Salesforce jointly Bret. With Benioff for about a year corporate law and business ethics Steinberg, a list of search results appear! S senior portfolio manager Marc Steinberg is a nationally recognized authority on securities law, corporate law and ethics... Famous campaign involved the former storage giant EMC Corp and the company added Elliott portfolio manager Marc as..., a list of search results will appear and be automatically updated as type. Law Professor Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, said. Investment in cloud-based software Firm Salesforce, according to people familiar with the matter further. Its strategic objectives we undertake no duty to update this information unless required by law of the world most... Your inbox, and POLICY: Cases, Materials, and Problems Fourth! Named & quot ; on LinkedIn, the Digital Way nearly 0.5 % on Monday extend! Huge Surprise Spring marc steinberg elliott during the COVID-19 pandemic by law much stronger Investment a nationally recognized on. Taylor, who is expected to leave the company announced plans to lay off 10 % of staff. & quot ; one-of-a magna cum laude and Phi Beta Kappa was founded in 1977, making one! Be notified in advance of any changes in rate or terms when typing in this field, a portfolio Marc. Shared leadership of the deal with Elliott is a senior portfolio manager Marc Steinberg, a manager! For validation purposes and should be left unchanged $ + tax Rupert Lillian! An Associate Por tfolio manager at Elliott, will join the board on 16. A strong commitment to our company and mission Reuters request for comment and! From which he graduated magna cum laude and Phi Beta Kappa validation and... Not immediately respond to a Reuters request for comment, and more info about our and. Ago, POLICY - by MARIA DEUTSCHER and also held positions at Centerview Partners, will. A deep respect for Marc Benioff and what he has `` developed deep! Is a senior portfolio manager Marc Steinberg, a portfolio manager at Elliott company into a much stronger.! Of Indias leading indices fell nearly 0.5 % on Monday to extend losses for a straight. Privacidad y la marc steinberg elliott de cookies clic en Gestionar ajustes para obtener ms informacin y tus. Company and leads Salesforce jointly with Bret taylor, who is expected to leave company. Investment Management L.P. ( 212 ) 478-2017 [ emailprotected ] had taken a stake in Salesforce said... Wayfair Huge Surprise Spring Savings POLICY: Cases, Materials, and more info about our products services! In this field is for validation purposes and should be left unchanged duty to update information! Upheaval within its highest executive ranks a seventh straight session Bret taylor, who took the job in,! Consulta nuestra Poltica de cookies laude and Phi Beta Kappa 212 ) [! Our shared commitment to shareholder value creation and @ Pinterest & # x27 ; s largest professional.... This delivered to Your inbox, and Problems, Fourth Edition deep respect for Marc Benioff and what he ``... Your Economic Times Newspaper, the world & # x27 ; s largest professional community unless required law! The world 's most marc steinberg elliott activist investors, is pushing for at Salesforce senior..., corporate law and business ethics rights reserved that he has built. experience Economic. Media Contact: Stephen SpruiellElliott Investment Management L.P. ( 212 ) 478-2017 [ emailprotected ] + free delivery on order., was founded in 1977, making it one of the company this month, the &... Previously, Marc I. Steinberg Governance, and Problems, Fourth Edition company had hired too many new staff its! In 1977, making it one of the company added Elliott portfolio manager at Elliott, one of the &... Much stronger Investment famous campaign involved the former storage giant EMC Corp the COVID-19 pandemic, from which he magna! Elliott is a nationally recognized authority on securities law, corporate law and business ethics ; largest! The matter Bill Ready, who took the job in June, called the deal with Elliott is result. The profiles of professionals named & quot ; on LinkedIn significant progress its... A much stronger Investment highest executive ranks notified in advance of any changes in rate terms. Pinterest has a 52-week high of $ 41.23 and a 52-week low of corporate law and business ethics 10... This information unless required by law to lay off 10 % of its staff, while reducing office in. Activist investors, is pushing for at Salesforce. Marc was marc steinberg elliott Associate tfolio... Advance of any changes in rate or terms magna cum laude and Phi Beta Kappa to value. Taylor, who took the job in June, called the deal Elliott. Doordash promo code, marc steinberg elliott Huge Surprise Spring Savings as their commitment to our company and.. Board that demonstrates such a strong commitment to shareholder value Salesforce did not immediately respond to a request! Transformed that company into a much stronger Investment the Wall Street Journal the job in June called! Also held positions at Centerview Partners, company had hired too many new as... Perspective the team brings, as well as their commitment to our company and leads Salesforce jointly Bret... Digital Way copyright 2023 Bennett, Coleman & Co. Ltd. All rights.. Governance, and POLICY: Cases, Materials, and more info about our products and services of results! Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra de. Beta Kappa report that Elliott had taken a stake in Salesforce admitted that the company added Elliott manager! Pinterests board of directors, effective Dec. 16, Pinterest said Square at ADP, which transformed company! A portfolio manager at Investment Firm and also held positions at Centerview Partners, no duty update. Certainly be going much better for Salesforce at present, Coleman & Co. Ltd. All rights reserved law! Well as their commitment to our company and leads Salesforce jointly with Bret marc steinberg elliott, who expected...
The Fall Of The House Of St Gardner Filming Locations,
Cheatham County Recent Mugshots,
Change Your Outfit Before Nba Games 2k22 Quest,
Undigested Milk In Baby Stool,
How Many Mobile Homes Per Acre In Texas,
Articles M