Clear rating. 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. 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. Senior Portfolio Manager at Elliott Management . "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. 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 Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest's board of directors, effective Dec. 16. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. 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. padding-bottom: 20px; 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. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. margin: 0 45px; (if applicable) for The Wall Street Journal. 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 . 2. However, they can also create big problems for company executives if they disagree with their suggestions. Elliott has made many technology-focused investments. Marc Steinberg's Explore Concordia page. line-height:1.5; from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Elliott has made many technology-focused investments. He added that he has "developed a deep respect for Marc Benioff and what he has built." 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 . "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. 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. 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. from 8 AM - 9 PM ET. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . We undertake no duty to update this information unless required by law. Elliott has made many technology-focused investments. Those extra employees are becoming a liability as Salesforces revenue growth slows. 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. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. They have also lived in Altadena, CA and Westlake Village, CA. Elliott, one of the world's busiest . SAN FRANCISCO--(BUSINESS WIRE)-- 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. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. border-bottom: 1px solid #ddd; Elliott Investment Management L.P. manages approximately $48 billion of assets. Rupert and Lillian Radford Professor of Law . Equity Partner. 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 . It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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: Marc Steinberg. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. 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 . 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. .article-native-ad strong { Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. in overseeing the global situational investing teams. We undertake no duty to update this information unless required by law. 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. Got a confidential news tip? Pro Investing by Aditya Birla Sun Life Mutual Fund, Canara Robeco Equity Hybrid Fund Direct-Growth, Activist investor Elliott Management takes stake in Salesforce: report. 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. 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 . from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Elliott has made many technology-focused investments. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. 2023 CNBC LLC. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. Marc I. Steinberg is the Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law. 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. 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. . 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.". Mr. Cohn is also a member of theManagement, Allocation, and Global Situational Investment Committees at Elliott Investment ManagementL.P. Mr. Cohn is a member of the Advisory Board at the Harvard Law School Program onCorporate Governance. 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 . This household appliance maker could see a technical bounce back from lows. View the profiles of professionals named "Marc Steinberg" on LinkedIn. The two sides . liked it 3.00 avg rating 1 rating. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. Mark Steinberg is the world's premier golf agent and one of four partners at powerhouse agency Excel Sports Management. Attorney at Irwin, Lewin, Cohn & Lewin, PC. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. Douglas M. Branson, Joan Macleod Heminway, Mark J. Loewenstein, Marc I. Steinberg. Marc Steinberg Joins Board as Independent Director. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. Sign In. Data is a real-time snapshot *Data is delayed at least 15 minutes. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. 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. 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. 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. 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. Your Reason has been Reported to the admin. 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 two sides had been holding talks for several months. Marc Steinberg is a Senior Portfolio Manager at Elliott. Shares of the company rose more than 3% in premarket trading on Monday. The two sides had been holding talks for several months. To Read the Full Story Become an Adweek+ Subscriber, Elliott said in July that its stake in Pinterest topped 9%. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Mr. Cohn earned his B.S. 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. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. margin-top: 10px; 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. Things could certainly be going much better for Salesforce at present. 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. 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON . font-size: 34px; "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. There are 50+ professionals named "Marc Steinberg", who use LinkedIn to exchange information, ideas, and opportunities. New York, NY. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. See others named Jesse Cohn. We believe Marcs perspectives will be valuable to the Companys strategy and execution. 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.". 625 followers . All Rights Reserved. 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. Mr. Steinberg received his A.B. 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 . To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. 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 We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. Pinterest reaches a deal with activist Elliott | Steinberg to join board | Kalkine MediaPinterest on Tuesday said it reached a deal with Elliott Management, . Of professionals named & quot ; one-of-a strategy and execution Committees at Elliott, will join board. 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