With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Neil Doshi 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. Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. 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. This household appliance maker could see a technical bounce back from lows. 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. A Division of NBCUniversal. The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. 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. font-size: 34px; 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.". 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 . 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. You may change your billing preferences at any time in the Customer Center or call It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Stock Radar: 30% down from highs! Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. 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. Equity Partner. 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 Marc Steinberg: Configuring Media Theory - Media Theory Your Reason has been Reported to the admin. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singer in overseeing the global situational investing teams. 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. from 8 AM - 9 PM ET. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. 13 others named Jesse Cohn are on LinkedIn. Marc Steinberg is a Senior Portfolio Manager at Elliott. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. (Reuters) -Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce Inc, according to people familiar with the matter. Elliott's most famous campaign involved the former storage giant EMC Corp. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under . The two sides had been holding talks for several months. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . Available on iOS and Android, and at pinterest.com. Website (s): The Platform Lab. Marc Steinberg Joins Board as Independent Director. 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. Sign In. This will alert our moderators to take action. by. Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. .article-native-ad { MISSOULA ~ Marc was born in New York City February 6th, 1952, the eldest of four children to Alexander Steinberg and Jane Nickerson Steinberg, both progressive, hard working . 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Mr. Cohn earned his B.S. Shares of the company rose more than 3% in premarket trading on Monday. 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.". Elliott has made many technology-focused investments. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Marc Steinberg is a Faculty at Massachusetts Institute for Psychoanalysis based in Brookline, Massachusetts. 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. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. 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. Elliott has agreed to standstill, voting, confidentiality and other commitments as part of the cooperation agreement. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. 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 . DISCLAIMER | PRIVACY POLICY | RELATED SITES. } Marc I. Steinberg is the Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Campbells Soup Sales Were Declining. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . 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 . So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. 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. Marc Steinberg is a Senior Portfolio Manager at Elliott. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. The two sides had been holding talks for several . Rupert and Lillian Radford Professor of Law . "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 . 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. Elliott has made many technology-focused investments. Senior Portfolio Manager at Elliott Management . Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. 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 . The two sides had been holding talks for several months. "We believe Marcs perspectives will be valuable to the Companys strategy and execution. Things could certainly be going much better for Salesforce at present. On Feb. 23, Tiger Woods ' longtime agent, Mark . You may cancel your subscription at anytime by calling 2/6/1952 - 7/1/2022. Elliott has made many technology-focused investments. Pinterest Inc. is adding an executive from Elliott Management Corp. to its board of directors, part of a commitment the social-media company reached with the activist investor to help it grow. Salesforce is valued at $151.3 billion. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. (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). Available on iOS and Android, and at pinterest.com. Sign up for free newsletters and get more CNBC delivered to your inbox. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. Dont miss out on ET Prime stories! liked it 3.00 avg rating 1 rating. View source version on businesswire.com: Marc Steinberg Joins Board as Independent Director 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. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. 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. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. We undertake no duty to update this information unless required by law. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Senior Portfolio Manager at Elliott Management Greenwich, Connecticut, United States. According to regulatory filings, Elliott owns nearly 3% of common stock, making up a portion of its total stake of more than 9%. This field is for validation purposes and should be left unchanged. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. click here! 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. 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. .article-native-ad p { Marc Steinberg's Explore Concordia page. padding-left: 10px!important; 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Elliott has made many technology-focused investments. Elliott said in July that its stake in Pinterest topped 9%. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. He added that he has "developed a deep respect for Marc Benioff and what he has built." Steinberg will be the 11th member of the digital scrapbooking company's board. 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. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. Get your daily dose of business updates on WhatsApp. Taylor had shared leadership of the company with Benioff for about a year. "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. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Get this delivered to your inbox, and more info about our products and services. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest's board of directors, effective Dec. 16. Pinterest reaches a deal with activist Elliott | Steinberg to join board | Kalkine MediaPinterest on Tuesday said it reached a deal with Elliott Management, . In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. 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. The two sides had been holding talks for several months. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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 . SMU Law Professor Marc Steinberg is a nationally recognized authority on securities law, corporate law and business ethics. Sep 2018 - Present4 years 5 months. Prior to joining Elliott in 2004, Mr. Cohn was an Analyst in the mergers and acquisitions group at Morgan Stanley. Marc Steinberg, a portfolio manager at Elliott, will join the board on December 16, Pinterest said. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. A good example is Pershing Square at ADP, which transformed that company into a much stronger investment. Mr. Steinberg received his A.B. 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. SAN FRANCISCO--(BUSINESS WIRE)-- He added that he has "developed a deep respect for Marc Benioff and what he has built." The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. } Marc Steinberg is a Senior Portfolio Manager at Elliott. See others named Jesse Cohn. Having gotten to know both incoming Chairman Bret Taylor and incoming CEO Parag Agrawal, we are confident that they are the right leaders for Twitter at this pivotal moment for the company. We undertake no duty to update this information unless required by law. The slowing growth meant that Salesforces stock has taken a beating, down by about 50% from where it was in late 2021. Elliott, one of the world's busiest . 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 . Email: Marc.Steinberg@concordia.ca. 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: 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. Marc Steinberg Joins Board as Independent Director. Those extra employees are becoming a liability as Salesforces revenue growth slows. Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. 2023 CNBC LLC. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. 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 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. 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce.

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