DISCLAIMER | PRIVACY POLICY | RELATED SITES. Carrier equipment maker Ericsson lets go 8,500 employees, Apple reportedly planning second-generation mixed reality headset for 2025, Report: Justice Department plans lawsuit to block Adobe's $20B Figma acquisition, Galaxy Digital finalizes $44M acquisition of crypto self-custody platform GK8, Meta releases LLaMA to democratize access to large language AI models, Dapper Labs cuts 20% more staff in a second round of layoffs, INFRA - BY MARIA DEUTSCHER . Marc Steinberg Joins Board as Independent Director. There are 50+ professionals named "Marc Steinberg", who use LinkedIn to exchange information, ideas, and opportunities. Elliott has made many technology-focused investments. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. View the profiles of professionals named "Marc Steinberg" on LinkedIn. You will be notified in advance of any changes in rate or terms. SAN FRANCISCO--(BUSINESS WIRE)-- line-height:1.5; 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. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. On Feb. 23, Tiger Woods ' longtime agent, Mark . Mr. Steinberg received his A.B. 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. Click here to join the free and open Startup Showcase event. 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. 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Marc Steinberg is a Senior Portfolio Manager at Elliott. However, Elliotts standard tactics are to push for board representation and then pressure companies into making operational changes, with an aim to boost overall profitability. Elliott has made many technology-focused investments. 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 . Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. color:rgb(46,179,178); Last year, it was announced that Benioffs co-CEO Bret Taylor will depart the company at the end of January, leaving Benioff the sole CEO once more. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. Elliott said in July that its stake in Pinterest topped 9%. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. Campbells Soup Sales Were Declining. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. 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. $ + tax 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. Elliott Investment Management L.P. manages approximately $48 billion of assets. Analyst Holger Mueller of Constellation Research Inc. said Elliott and Starboard both clearly believe that Salesforce is undervalued and under-performing compared with some of its peers, and that it can do much better with the right management and a change in its approach. "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. 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. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Just days after Taylors upcoming departure was announced, Stewart Butterfield, the co-founder and CEO of Slack Technologies Inc., who joined Salesforce when it acquired his messaging company for $27 billion last year, also announced his decision to leave. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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. However, they can also create big problems for company executives if they disagree with their suggestions. 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. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. So It Redesigned Its Iconic Can. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. We undertake no duty to update this information unless required by law. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. 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.. According to regulatory filings, Elliott owns nearly 3% of common stock, making up a portion of its total stake of more than 9%. Mike Wheatley. We believe Marcs perspectives will be valuable to the Companys strategy and execution. Already a member? Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. This will alert our moderators to take action. 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON . 625 followers . Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. font-size: 34px; He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. "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. In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . Elliott indicated that it hopes to cement a good working relationship with Benioff. Website (s): The Platform Lab. 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. Shares of the company rose more than 3% in premarket trading on Monday. Jesse Cohn. Customer Service. 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. .article-native-ad svg { from 8 AM - 9 PM ET. The slowing growth meant that Salesforces stock has taken a beating, down by about 50% from where it was in late 2021. 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. 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. He added that he has "developed a deep respect for Marc Benioff and what he has built." 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 . Equity Partner. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. The two sides had been holding talks for several months. The stock price has tumbled 38% since January and closed at $22.72 . It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. New York, NY. Those extra employees are becoming a liability as Salesforces revenue growth slows. } 2/6/1952 - 7/1/2022. . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Mark Steinberg Earns $20 Million a Year Representing Tiger Woods and Other Athletes. click here! Marc Steinberg Joins Board as Independent Director. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. Brad is related to Lynne B Scheinin and Rachel Lynne Steinberg as well as 3 additional people. 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. You may change your billing preferences at any time in the Customer Center or call 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. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. (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). It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Pinterest CEO Bill Ready, who took the job . "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. By Dan Clarendon. He is responsible for public and private equity investments across a range of industries, including the technology, media and . ", "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. Marc Steinberg Joins Board as Independent Director. 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. Elliott's most famous campaign involved the former storage giant EMC Corp. The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. 4 2021, Published 3:06 p.m. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. 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. 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. Investors can be a blessing, depending on how they get along with the target Companys senior,... In engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott Management has a! Cooperation agreement with Elliott Management, create big problems for company executives they! 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