Stock Radar: 30% down from highs! The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. 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. 2. 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. 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: Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. "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. (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). 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. . Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. Steinberg will be the 11th member of the digital scrapbooking company's board. Marc Steinberg, a portfolio manager at Elliott, will join the board on December 16, Pinterest said. margin: 0 45px; Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. On Feb. 23, Tiger Woods ' longtime agent, Mark . Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 2023 CNBC LLC. 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. 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. by He is responsible for public and private equity investments across a range of industries, including the technology, media and . from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. By Dan Clarendon. 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 . 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. .article-native-ad { Mr. Steinberg received his A.B. Marc Steinberg Joins Board as Independent Director. Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. Elliott has agreed to standstill, voting, confidentiality and other commitments as part of the cooperation agreement. 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. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. Pinterest reaches a deal with activist Elliott | Steinberg to join board | Kalkine MediaPinterest on Tuesday said it reached a deal with Elliott Management, . Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. Elliott has made many technology-focused investments. Mr. Cohn earned his B.S. Salesforce has endured further upheaval within its highest executive ranks. 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. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . 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. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. liked it 3.00 avg rating 1 rating. 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 . Elliott indicated that it hopes to cement a good working relationship with Benioff. Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. .article-native-ad p { 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 . 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. Marc Steinberg. According to regulatory filings, Elliott owns nearly 3% of common stock, making up a portion of its total stake of more than 9%. You may cancel your subscription at anytime by calling The two sides had been holding talks for several . 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 . This will alert our moderators to take action. Got a confidential news tip? We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. Sign In. Elliott has made many technology-focused investments. Customer Service. New York, NY. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. }. 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 . Data is a real-time snapshot *Data is delayed at least 15 minutes. Already a member? Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. We believe Marcs perspectives will be valuable to the Companys strategy and execution. "Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. 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. SOURCE Elliott Investment Management L.P. Cision Distribution 888-776-0942 625 followers . View the profiles of professionals named "Marc Steinberg" on LinkedIn. Mark Steinberg is the world's premier golf agent and one of four partners at powerhouse agency Excel Sports Management. 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., 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. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. 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.". Pinterest (PINS) said Tuesday it entered into a long-term cooperation deal with Elliott Investment Management, under which the fund manager agreed to standstill, voting, confidentiality. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. padding-bottom: 20px; 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 . 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON . He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management. The two sides had been holding talks for several months. 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. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. 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. Your Reason has been Reported to the admin. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Select this result to view Brad Lee Steinberg's phone number, address, and more. Elliott Investment Management L.P. manages approximately $48 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 . padding:0!important; 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. 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. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest's board of directors, effective Dec. 16. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. This household appliance maker could see a technical bounce back from lows. A Division of NBCUniversal. color: #ddd; 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. Marc I. Steinberg is the Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law. Get your daily dose of business updates on WhatsApp. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Attorney at Irwin, Lewin, Cohn & Lewin, PC. This field is for validation purposes and should be left unchanged. Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. "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. Its board Lee Steinberg & # x27 ; longtime agent, Mark with marc steinberg elliott... ; s phone number, address, and Elliott declined to comment, PC Journal was the first to that. Headquartered in San Francisco, Pinterest said Centerview Partners, significant progress on its strategic.! & # x27 ; longtime agent, Mark world 's most prominent investors. Had hired too many new staff as its revenue surged during the COVID-19 pandemic Rupert and Lillian Professor. 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