Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. Already a member? Attorney at Irwin, Lewin, Cohn & Lewin, PC. 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. The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. Mr. Cohn earned his B.S. border-bottom: 1px solid #ddd; It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. 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. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. 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. They have also lived in Altadena, CA and Westlake Village, CA. 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. The two sides had been holding talks for several months. The two sides . Senior Portfolio Manager at Elliott Management Greenwich, Connecticut, United States. 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 . Sign In. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. 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. padding-bottom: 20px; Mark Steinberg is the world's premier golf agent and one of four partners at powerhouse agency Excel Sports Management. . 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.". Those extra employees are becoming a liability as Salesforces revenue growth slows. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. 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. Elliott has made many technology-focused investments. 2. 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-kind agreement" and said the company "appreciates the perspective" Steinberg, Jesse Cohn, a . It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Mar. 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. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. He is responsible for public and private equity investments across a range of industries, including the technology, media and . .article-native-ad { 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. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. .article-native-ad svg { Elliott has made many technology-focused investments. 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. 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 want to hear from you. 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. SOURCE Elliott Investment Management L.P. Cision Distribution 888-776-0942 NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . Marc Steinberg Joins Board as Independent Director. . The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. 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 . Customer Service. Marc Steinberg. Stock Radar: 30% down from highs! 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. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . 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 . 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. 2023 CNBC LLC. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Data is a real-time snapshot *Data is delayed at least 15 minutes. When typing in this field, a list of search results will appear and be automatically updated as you type. He'll also sit on Pinterest's board's audit and risk committees. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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. 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. liked it 3.00 avg rating 1 rating. 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. Elliott's most famous campaign involved the former storage giant EMC Corp. Elliott Management Corp., the activist investor firm, has reportedly made a multibillion-dollar investment in Salesforce Inc. Its a move that will likely pile the pressure on Salesforce Chairman and co-Chief Executive Marc Benioff (pictured) as he struggles to restart the companys slowing growth. 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. This will alert our moderators to take action. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. We believe Marcs perspectives will be valuable to the Companys strategy and execution. Customer Service. 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. Marc Steinberg is a Senior Portfolio Manager at Elliott. We undertake no duty to update this information unless required by law. 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. The two sides had been holding talks for several . "Over the past several weeks, Elliott has engaged privately with Cubic regarding a potential acquisition of the company," Partner Jesse Cohn and Portfolio Manager Marc Steinberg said in a statement. 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 . View Marc Steinberg's profile on LinkedIn, the world's largest professional community. To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. New York, NY. Elliott, one of the world's busiest . 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. Elliott Management Corporation. Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. color: #ddd; 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. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value., Elliott understands our vision at Pinterest: to build a place where Pinners can find inspiration and, in doing so, create value for businesses, said Ben Silbermann, Co-founder and Executive Chairman, Pinterest. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. So It Redesigned Its Iconic Can. /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an approximately $1 . 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.". 4 2021, Published 3:06 p.m. 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. 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. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. .article-native-ad strong { Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Sep 2018 - Present4 years 5 months. Things could certainly be going much better for Salesforce at present. 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