Elliott has made many technology-focused investments. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Elliot's investment comes after Starboard Value announced an undisclosed stake in Salesforce in October and said the company was suffering from a valuation discount due to a "subpar mix of growth and profitability.". (Reporting by Svea Herbst-Bayliss in New York, Sneha Bhowmik and Juby Babu in Bengaluru; Additional reporting by Tiyashi Datta and Akash Sriram; Editing by Chris Reese, Stephen Coates and Anil D'Silva). India is buying trucks. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts. Rupert and Lillian Radford Professor of Law . Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singer in overseeing the global situational investing teams. Jesse Cohn. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Email: Marc.Steinberg@concordia.ca. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Elliott's most famous campaign involved the former storage giant EMC Corp. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. Marc Steinberg Joins Board as Independent Director. 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. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. liked it 3.00 avg rating 1 rating. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Marc Steinberg's Explore Concordia page. /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an approximately $1 . Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. He added that he has "developed a deep respect for Marc Benioff and what he has built." Elliott Investment Management L.P. manages approximately $48 billion of assets. They have also lived in Altadena, CA and Westlake Village, CA. 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. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. New York, NY. .article-native-ad strong { Steinberg will be the 11th member of the digital scrapbooking company's board. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Those extra employees are becoming a liability as Salesforces revenue growth slows. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. 13 others named Jesse Cohn are on LinkedIn. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. Equity Partner. 2023 CNBC LLC. Clear rating. 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Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. The investment firm reached a similar agreement with Twitter in March 2020, with partner Jesse Cohn added to Twitters board of directors, along with Silver Lake co-CEO and managing partner Egon Durban. } 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. Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. 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 . All Rights Reserved. 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, 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. color:rgb(46,179,178); On Feb. 23, Tiger Woods ' longtime agent, Mark . 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. Get your daily dose of business updates on WhatsApp. Elliott said in July that its stake in Pinterest topped 9%. 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. ir@pinterest.com, Pinterest Announces Partnership with Elliott Investment Management, https://www.businesswire.com/news/home/20221206005978/en/. WEST PALM BEACH, Fla., Nov. 29, 2021 /PRNewswire/ --Elliott Investment Management L.P. ("Elliott") today released the following statement on behalf of Managing Partner Jesse Cohn and Senior Portfolio Manager Marc Steinberg regarding the leadership changes announced at Twitter (NYSE: TWTR): Twitter is the leading global medium for real-time conversation and engagement, and our collaboration with Jack and the company for the past two years has been productive and effective. When typing in this field, a list of search results will appear and be automatically updated as you type. Cases, Materials, and Policy: Cases, Materials, and Problems, Fourth Edition 16, Pinterest Partnership. We really want to hear from you, and were looking forward to seeing you at event! X27 ; s Explore Concordia page a deep respect for marc Benioff and he... Data and Analysis search results will appear and be automatically updated as you type billion, up 14 % a... And be automatically updated as you type the digital scrapbooking company & # x27 s. 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