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. 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. Wed like to welcome Marc to the Pinterest Board following our collaborative dialogue with Marc, Jesse Cohn, and Elliott over the past few months, said Bill Ready, Chief Executive Officer, Pinterest. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. Elliott Investment Management L.P. manages approximately $55.7 billion of assets. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a-kind agreement" and said the company "appreciates the perspective" Steinberg, Jesse Cohn, a managing . 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. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an approximately $1 . Experience Your Economic Times Newspaper, The Digital Way! He is the former Director of SMU's Corporate Directors' Institute, the Director of the SMU Corporate Counsel Externship Program, the former Senior Associate Dean for Academics, and the former Senior Associate Dean for Research at the Law School . .article-native-ad svg { In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. 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Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Though that may not seem too bad, it still represents a significant slowdown from the 27% revenue growth Salesforce recorded in the same period a year earlier. 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. It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. color:rgb(46,179,178); 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. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. Marc Steinberg's research focuses on animation, media industry studies, and digital media, focusing on the role of digital platforms in mediating cultural production and experience. You may change your billing preferences at any time in the Customer Center or call The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. .article-native-ad p { Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. 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. 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. 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. 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. To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. "Wed like to welcome Marc to the Pinterest Board following our collaborative dialogue with Marc, Jesse Cohn, and Elliott over the past few months," said Bill Ready, Chief Executive Officer, Pinterest. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Senior Portfolio Manager at Elliott Management . Get this delivered to your inbox, and more info about our products and services. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Announcing the layoffs, Benioff cited the economic slowdown that has resulted in many of its customers reducing spending on software. 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: "Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. In August, Elliott disclosed itself as the company's largest shareholder and said it owned 15 million shares in a filing on its September holdings. The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. We are delighted that you'd like to resume your subscription. 4 2021, Published 3:06 p.m. 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. Cohn, who has served on the boards of several technology companies including Twitter and eBay Inc, called Salesforce "one of the preeminent software companies in the world.". Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under . Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . 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. 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 . 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Availability: Upon contact. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. On Feb. 23, Tiger Woods ' longtime agent, Mark . Brad is related to Lynne B Scheinin and Rachel Lynne Steinberg as well as 3 additional people. Previously, Elliott has targeted the likes of Twitter Inc., PayPal Holdings Inc., AT&T Inc. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. There are 50+ professionals named "Marc Steinberg", who use LinkedIn to exchange information, ideas, and opportunities. Get your daily dose of business updates on WhatsApp. Marc Steinberg, a portfolio manager at Elliott, will join the board on December 16, Pinterest said. Customer Service. padding-bottom: 20px; The two sides had been holding talks for several months. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. Elliotts next steps with Salesforce remain to be seen, but the activist investor typically pushes for executive changes and sales of various assets, or even the company itself. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. 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. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20221206005978/en/, Investor relations:Neil Doshiir@pinterest.com, https://www.businesswire.com/news/home/20221206005978/en/, Consumers keep feeling better about today and worse about tomorrow: Morning Brief, Chinese video streaming platform iQIYI to raise $600 million through convertible bonds, GLOBAL MARKETS-Stocks rally, bonds tumble as China manufacturing rebounds, inflation weighs, Protests make Norway's energy minister cancels UK trip, US subsidies are appealing to German companies-survey. The two sides had been holding talks for several . Marc Steinberg Joins Board as Independent Director. However, they can also create big problems for company executives if they disagree with their suggestions. Marc Steinberg is a Senior Portfolio Manager at Elliott. Marc Steinberg's Explore Concordia page. Elliott has made many technology-focused investments. 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. Elliott has made many technology-focused investments. Mar. Mr. Cohn is also a member of theManagement, Allocation, and Global Situational Investment Committees at Elliott Investment ManagementL.P. Mr. Cohn is a member of the Advisory Board at the Harvard Law School Program onCorporate Governance. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. 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. 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. 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