New York, NY. 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. margin: 0 45px; Marc Steinberg. 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 . The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. See others named Jesse Cohn. Salesforce has already had to deal with one activist investor. In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. So It Redesigned Its Iconic Can. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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. padding-left: 10px!important; Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. 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. https://www.businesswire.com/news/home/20221206005978/en/, Investor relations: It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. 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. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. 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Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. Your Reason has been Reported to the admin. Jesse Cohn. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. Sign up for free newsletters and get more CNBC delivered to your inbox. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . 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. 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 . (if applicable) for The Wall Street Journal. 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. Shares of the company rose more than 3% in premarket trading on Monday. 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. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Sep 2018 - Present4 years 5 months. Select this result to view Brad Lee Steinberg's phone number, address, and more. 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. 2/6/1952 - 7/1/2022. Marc Steinberg Joins Board as Independent Director. So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. 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. "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 . By Dan Clarendon. This field is for validation purposes and should be left unchanged. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. 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. He added that he has "developed a deep respect for Marc Benioff and what he has built." 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. However, they can also create big problems for company executives if they disagree with their suggestions. 4 2021, Published 3:06 p.m. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Shares of Salesforce rose about 3% in early trading on Monday. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. 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 . 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.". Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. 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. Elliott Investment Management L.P. manages approximately $55.7 billion of assets. Marc Steinberg's Explore Concordia page. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. SOURCE Elliott Investment Management L.P. Cision Distribution 888-776-0942 Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Campbells Soup Sales Were Declining. Already a member? Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. border-bottom: 1px solid #ddd; Marc Steinberg is a Faculty at Massachusetts Institute for Psychoanalysis based in Brookline, Massachusetts. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singer in overseeing the global situational investing teams. 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. color: #ddd; 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. Previously, Elliott has targeted the likes of Twitter Inc., PayPal Holdings Inc., AT&T Inc. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. 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. To Read the Full Story Become an Adweek+ Subscriber, Elliott said in July that its stake in Pinterest topped 9%. Pinterest CEO Bill Ready, who took the job . Announcing the layoffs, Benioff cited the economic slowdown that has resulted in many of its customers reducing spending on software. .article-native-ad { 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 undertake no duty to update this information unless required by law. 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. The two sides had been holding talks for several months. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. 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. Marc Steinberg Joins Board as Independent Director. Elliott has made many technology-focused investments. 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. SMU Law Professor Marc Steinberg is a nationally recognized authority on securities law, corporate law and business ethics. Attorney at Irwin, Lewin, Cohn & Lewin, PC. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest 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. by. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. (Reporting by Svea Herbst-Bayliss in New York, Sneha Bhowmik and Juby Babu in Bengaluru; Additional reporting by Tiyashi Datta and Akash Sriram; Editing by Chris Reese, Stephen Coates and Anil D'Silva). With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Click here to join the free and open Startup Showcase event. 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. 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. In 2015, Mr. Steinberg worked at Investment bank Centerview Partners with Steinberg joining the..., up 14 % from a year earlier authority on securities law, corporate law and Business.. A blessing, depending on how they get along with the target companys senior leadership the. Expands to eight independent directors and 11 members total and what he has built. what he has...., making it one of the company had hired too many new staff as its revenue surged during the pandemic... Is for validation purposes and should be left unchanged: Stephen SpruiellElliott Investment Management (. 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