Elliott Investment Management L.P. manages approximately $48 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Already a member? Equity Partner. We are delighted that you'd like to resume your subscription. Salesforce is valued at $151.3 billion. This field is for validation purposes and should be left unchanged. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. 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 . 2023 CNBC LLC. 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. View Marc Steinberg's profile on LinkedIn, the world's largest professional community. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. . 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . On Feb. 23, Tiger Woods ' longtime agent, Mark . Senior Portfolio Manager at Elliott Management . The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. $ + tax 13 others named Jesse Cohn are on LinkedIn. Elliott has made many technology-focused investments. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest 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. } 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 . Learn more. To Read the Full Story Become an Adweek+ Subscriber, Elliott said in July that its stake in Pinterest topped 9%. All Rights Reserved. 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. Availability: Upon contact. Click here to join the free and open Startup Showcase event. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. New York, New York. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. CNBC reported on Monday that activist investor Jeff Ubben's Inclusive Capital Partners also took a stake in Salesforce, however, the report did not reveal the size of the holding. Customer Service. 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.". 2/6/1952 - 7/1/2022. So It Redesigned Its Iconic Can. SOURCE Elliott Investment Management L.P. Cision Distribution 888-776-0942 Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Choose your reason below and click on the Report button. This will alert our moderators to take action. Your Reason has been Reported to the admin. Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. 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. Elliott has made many technology-focused investments. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Cohn, who has served on the boards of several technology companies including Twitter and eBay Inc, called Salesforce "one of the preeminent software companies in the world.". 4 2021, Published 3:06 p.m. 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. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Sign In. 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. Things could certainly be going much better for Salesforce at present. You will be charged Haz clic en Gestionar ajustes para obtener ms informacin y gestionar tus opciones. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . See others named Jesse Cohn. 2. 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 . 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. The stock price has tumbled 38% since January and closed at $22.72 . The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. Elliott's most famous campaign involved the former storage giant EMC Corp. Marc Steinberg Joins Board as Independent Director. "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. 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 . 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 added that he has "developed a deep respect for Marc Benioff and what he has built." 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 . Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. 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. We want to hear from you. Sep 2018 - Present4 years 5 months. The two sides had been holding talks for several months. 625 followers . 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 . In Anime's Media Mix, Marc Steinberg convincingly shows that anime is far more than a style of Japanese animation.Engaging with film, animation, and media studies, as well as analyses of consumer culture and theories of capitalism, Steinberg offers the first sustained study of the Japanese mode of convergence that informs global media practices to this day. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. liked it 3.00 avg rating 1 rating. 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 . We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. from 8 AM - 9 PM ET. Got a confidential news tip? It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. The two sides had been holding talks for several months. by margin: 0 45px; 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. 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. You may cancel your subscription at anytime by calling 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: 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. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. padding:0!important; Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. Mark Steinberg is the world's premier golf agent and one of four partners at powerhouse agency Excel Sports Management. 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. 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. Twitter is now executing against an ambitious multi-year plan to dramatically increase the company's reach and value, and we look forward to the next chapter of Twitter's story. 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 . 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. Douglas M. Branson, Joan Macleod Heminway, Mark J. Loewenstein, Marc I. Steinberg. Get this delivered to your inbox, and more info about our products and services. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. 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. Pinterest on Tuesday 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. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. 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.. .article-native-ad p { (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. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. View the profiles of professionals named "Marc Steinberg" on LinkedIn. border-bottom: 1px solid #ddd; 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. ", "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.". }. Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. by. "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 Management Corporation. "Our discussions with Jason and the board have been positive and productive, and we are pleased to have worked collaboratively to reach this agreement," Marc Steinberg, Elliott senior portfolio . 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. 50% off + free delivery on any order with DoorDash promo code, Wayfair Huge Surprise Spring Savings! Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management. Marc Steinberg's Explore Concordia page. To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. } Previously, Marc was an Associate Por tfolio Manager at Investment Firm and also held positions at Centerview Partners, . 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. We undertake no duty to update this information unless required by law. The two sides had been holding talks for several months. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Mike Wheatley. 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. 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 . 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. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. 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. 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