The two sides had been holding talks for several months. He'll also sit on Pinterest's board's audit and risk committees. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Jesse Cohn. Sign up for free newsletters and get more CNBC delivered to your inbox. liked it 3.00 avg rating 1 rating. 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. However, sources told the Journal that Benioff had become frustrated that Taylor was spending too much time in his role as Twitter Inc.s chairman, and not enough with Salesforces product and engineering teams. Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. A message from John Furrier, co-founder of SiliconANGLE: Show your support for our mission by joining our Cube Club and Cube Event Community of experts. 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. The two sides had been holding talks for several months. 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. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management. Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg issued a statement commending Stephenson, Lead Director Matt Rose and the entire board and management team. 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. Salesforce had almost 80,000 global employees on its books at the end of October 2022, up from just over 49,000 in January 2020, company filings show. "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. 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. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . Jesse Cohn. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. Clear rating. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. "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. He is responsible for public and private equity investments across a range of industries, including the technology, media and . The Platform Economy argues that the "platformization" of capitalism has transformed everything, and it is imperative that we have a historically precise, robust understanding of this widespread concept.Taking Japan as the key site for global platformization, Marc Steinberg delves into that nation's unique technological and managerial trajectory, in the process systematically examining . Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. This field is for validation purposes and should be left unchanged. Salesforce has endured further upheaval within its highest executive ranks. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. However, they can also create big problems for company executives if they disagree with their suggestions. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. Click here to join the free and open Startup Showcase event. Mr. Steinberg received his A.B. margin: 0 45px; In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. Twitter is now executing against an ambitious multi-year plan to dramatically increase the company's reach and value, and we look forward to the next chapter of Twitter's story. Marc Steinberg Joins Board as Independent Director. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. But that is partially good news for Tata, Ashok Leyland. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Elliott has made many technology-focused investments. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Elliott has made many technology-focused investments. "Our collaboration with Jack and the company for the past two years has been productive and effective," Mr. Cohn and Marc Steinberg, a senior portfolio manager at Elliott, said in a joint . The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. In a letter to AT&T's board, Elliott Management partner Jesse Cohn and associate portfolio manager Marc Steinberg wrote that AT&T's stock could potentially surge to above $60 a share by 2021 . Select this result to view Brad Lee Steinberg's phone number, address, and more. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. by Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. Your Reason has been Reported to the admin. Marc Steinberg's Explore Concordia page. Got a confidential news tip? Marc Steinberg Joins Board as Independent Director. The recent selloff mirrors the weak trend in global equities after a series of US economic data including Fridays consumer price inflation, which is the Federal Reserves most preferred inflation gauge compounded fears the Federal Reserve will keep policy rates elevated for longer than the market had priced in. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. See others named Jesse Cohn. Neil Doshi 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. Mr. Cohn earned his B.S. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. 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. DISCLAIMER | PRIVACY POLICY | RELATED SITES. Elliott Investment Management L.P. manages approximately $48 billion of assets. font-size: 34px; 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 . Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. Email: Marc.Steinberg@concordia.ca. 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. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. We look forward to working together as we execute on our strategy to increase engagement with users, deepen monetization per user, and build personalized experiences on Pinterest that go from inspiration and intent to action all while creating a more positive and inspiring place online., Pinterests unique business model is at the intersection of search, social media and commerce, with significant opportunity for growth and value creation, said Marc Steinberg. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Pinterest 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. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Choose your reason below and click on the Report button. Already a member? 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