Marc Steinberg is a Senior Portfolio Manager at Elliott. The two sides had been holding talks for several . 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. Marc I. Steinberg is the Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law. Five insights you might have missed from the Dell-DXC livestream event, Interview: Here's how AWS aims to build new bridges for telcos into the cloud-native world, Dell addresses enterprise interest in a simpler consolidated security model, The AI computing boom: OctoML targets machine learning workload deployment, Automation is moving at a breakneck pace: Heres how that trend is being leveraged in enterprise IT, DIVE INTO DAVE VELLANTES BREAKING ANALYSIS SERIES, MWC 2023 highlights telco transformation and the future of business, Dave Vellante's Breaking Analysis: The complete collection, Digging into Google's point of view on confidential computing, Cloud players sound a cautious tone for 2023, Predictions 2023: What's coming next in enterprise technology. Mark Steinberg is the world's premier golf agent and one of four partners at powerhouse agency Excel Sports Management. Senior Portfolio Manager at Elliott Management . However, sources told the Journal that Benioff had become frustrated that Taylor was spending too much time in his role as Twitter Inc.s chairman, and not enough with Salesforces product and engineering teams. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. Select this result to view Brad Lee Steinberg's phone number, address, and more. "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. 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.". 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Elliott has agreed to standstill, voting, confidentiality and other commitments as part of the cooperation agreement. Marc Steinberg is a Senior Portfolio Manager at Elliott. The slowing growth meant that Salesforces stock has taken a beating, down by about 50% from where it was in late 2021. 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. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. 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. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. Mar. 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 . 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. 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 . PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . Customer Service. Shares of the company rose more than 3% in premarket trading on Monday. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest's board of directors, effective Dec. 16. Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. Pinterest CEO Bill Ready, who took the job . Marc Steinberg's Explore Concordia page. 2/6/1952 - 7/1/2022. line-height:1.5; See others named Jesse Cohn. 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. . 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. Elliott Investment Management L.P. manages approximately $55.7 billion of assets. Rupert and Lillian Radford Professor of Law . Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. DISCLAIMER | PRIVACY POLICY | RELATED SITES. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. 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: He is responsible for public and private equity investments across a range of industries, including the technology, media and . 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. color:rgb(46,179,178); Senior Portfolio Manager at Elliott Management Greenwich, Connecticut, United States. 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. Elliott has made many technology-focused investments. Marc Steinberg Joins Board as Independent Director. color: #ddd; https://www.businesswire.com/news/home/20221206005978/en/, Investor relations: 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 . 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 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. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. India is buying trucks. Availability: Upon contact. . It recently won a board seat at Pinterest 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. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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 . Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. 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.". The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. 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. 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 . It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. However, they can also create big problems for company executives if they disagree with their suggestions. Sign up for free newsletters and get more CNBC delivered to your inbox. So It Redesigned Its Iconic Can. Elliott has made many technology-focused investments. } In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. Available on iOS and Android, and at pinterest.com. You will be charged Dont miss out on ET Prime stories! Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. 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. Douglas M. Branson, Joan Macleod Heminway, Mark J. Loewenstein, Marc I. Steinberg. 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. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. The recent selloff mirrors the weak trend in global equities after a series of US economic data including Fridays consumer price inflation, which is the Federal Reserves most preferred inflation gauge compounded fears the Federal Reserve will keep policy rates elevated for longer than the market had priced in. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. The two sides . This field is for validation purposes and should be left unchanged. } Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Choose your reason below and click on the Report button. 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. Elliott has made many technology-focused investments. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. 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 . 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. We undertake no duty to update this information unless required by law. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. (if applicable) for The Wall Street Journal. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a 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. 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. "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. Elliott has made many technology-focused investments. Elliott Management Corporation. 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. Mr. Steinberg received his A.B. "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. 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. } Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. The two sides had been holding talks for several months. 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. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Campbells Soup Sales Were Declining. Marc Steinberg Joins Board as Independent Director. Validation purposes and should be left unchanged., who took the job marc steinberg elliott strong commitment shareholder... 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