Mr. Steinberg received his A.B. The two sides had been holding talks for several months. 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. 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.". Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. But that is partially good news for Tata, Ashok Leyland. Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. 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By Dan Clarendon. 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: Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. 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.". 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. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. Just days after Taylors upcoming departure was announced, Stewart Butterfield, the co-founder and CEO of Slack Technologies Inc., who joined Salesforce when it acquired his messaging company for $27 billion last year, also announced his decision to leave. 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. Sign In. Neil Doshi margin-bottom: 20px; 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. Puedes cambiar tus opciones en cualquier momento desde tus controles de privacidad. 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. .article-native-ad p { Mark Steinberg Earns $20 Million a Year Representing Tiger Woods and Other Athletes. Marc Steinberg Joins Board as Independent Director. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. 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. 625 followers . The two sides . 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 . 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. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. 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. 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. This household appliance maker could see a technical bounce back from lows. by. Announcing the layoffs, Benioff cited the economic slowdown that has resulted in many of its customers reducing spending on software. Elliott has made many technology-focused investments. ir@pinterest.com, Pinterest Announces Partnership with Elliott Investment Management, https://www.businesswire.com/news/home/20221206005978/en/. Elliott Investment Management L.P. manages approximately $55.7 billion of assets. Shares of the company rose more than 3% in premarket trading on Monday. click here! In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. The two sides had been holding talks for several months. .article-native-ad { So It Redesigned Its Iconic Can. 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 . Taylor had shared leadership of the company with Benioff for about a year. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. from 8 AM - 9 PM ET. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. You may cancel your subscription at anytime by calling Elliott has made many technology-focused investments. padding-bottom: 20px; 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. Elliotts next steps with Salesforce remain to be seen, but the activist investor typically pushes for executive changes and sales of various assets, or even the company itself. Marc Steinberg is a Senior Portfolio Manager at Elliott. 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. font-size: 34px; New York, NY. 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.". "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. PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . Jesse Cohn. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. font-weight:500; You will be charged 2023 CNBC LLC. We are delighted that you'd like to resume your subscription. 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. Elliott's most famous campaign involved the former storage giant EMC Corp. Elliott said in July that its stake in Pinterest topped 9%. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. Campbells Soup Sales Were Declining. 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. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Salesforce has already had to deal with one activist investor. 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 There are 50+ professionals named "Marc Steinberg", who use LinkedIn to exchange information, ideas, and opportunities. 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. The two sides had been holding talks for several months. line-height:1.5; "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 . Elliott Investment Management L.P. manages approximately $48 billion of assets. Elliott has made many technology-focused investments. 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