Shares of the company rose more than 3% in premarket trading on Monday. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. We want to hear from you. Experience Your Economic Times Newspaper, The Digital Way! Availability: Upon contact. 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. 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. Cohn, who has served on the boards of several technology companies including Twitter and eBay, called Salesforce "one of the preeminent software companies in the world.". 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. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. 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 undertake no duty to update this information unless required by law. Click here to join the free and open Startup Showcase event. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. He is responsible for public and private equity investments across a range of industries, including the technology, media and . 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 . Email: Marc.Steinberg@concordia.ca. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . font-size: 34px; View the profiles of professionals named "Marc Steinberg" on LinkedIn. 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. 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. ET. Marc Steinberg is a Senior Portfolio Manager at Elliott. It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. 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. 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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. "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. 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. The two sides . 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 members, the social-media . margin-bottom: 20px; Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. 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Announcing the layoffs, Benioff cited the economic slowdown that has resulted in many of its customers reducing spending on software. }. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. We are delighted that you'd like to resume your subscription. 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 . Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. .article-native-ad p { Marc Steinberg is a Senior Portfolio Manager at Elliott. By Dan Clarendon. India is buying trucks. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The two sides had been holding talks for several months. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. 13 others named Jesse Cohn are on LinkedIn. Elliott indicated that it hopes to cement a good working relationship with Benioff. So It Redesigned Its Iconic Can. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. 625 followers . 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. Shares of Salesforce rose about 3% in early trading on Monday. Elliott has made many technology-focused investments. Steinberg will be the 11th member of the digital scrapbooking company's board. 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. Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Activist investor Elliott Management takes stake in Salesforce: report. Salesforce is valued at $151.3 billion. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. New York, NY. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. 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. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Stock Radar: 30% down from highs! Elliott has made many technology-focused investments. 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. https://www.businesswire.com/news/home/20221206005978/en/, Investor relations: Jesse Cohn. Mark Steinberg Earns $20 Million a Year Representing Tiger Woods and Other Athletes. Elliott, one of the world's busiest . 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