Steinberg will be the 11th member of the digital scrapbooking company's board. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. Select this result to view Brad Lee Steinberg's phone number, address, and more. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Marc Steinberg Joins Board as Independent Director. Marc Steinberg. Equity Partner. 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. Mr. Cohn earned his B.S. 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.". Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. . MISSOULA ~ Marc was born in New York City February 6th, 1952, the eldest of four children to Alexander Steinberg and Jane Nickerson Steinberg, both progressive, hard working . Douglas M. Branson, Joan Macleod Heminway, Mark J. Loewenstein, Marc I. Steinberg. You may cancel your subscription at anytime by calling We undertake no duty to update this information unless required by law. Elliott, one of the world's busiest . So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. padding-left: 10px!important; With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. 4 2021, Published 3:06 p.m. 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 . 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. Marc Steinberg's Explore Concordia page. from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Para obtener ms informacin sobre cmo utilizamos tus datos, consulta nuestra Poltica de privacidad y la Poltica de cookies. The two sides had been holding talks for several months. Experience Your Economic Times Newspaper, The Digital Way! Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Elliott Investment Management L.P. manages approximately $48 billion of assets. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. 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. 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 parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. 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. Earlier this year Salesforce Inc said it plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown. Jesse Cohn. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. 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. Available on iOS and Android, and at pinterest.com. 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. Get this delivered to your inbox, and more info about our products and services. margin: 0 45px; New York, New York. India is buying trucks. 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 To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. 13 others named Jesse Cohn are on LinkedIn. 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. 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. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. We want to hear from you. Got a confidential news tip? By Dan Clarendon. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. line-height:1.5; It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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. 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.. Shares of the company rose more than 3% in premarket trading on Monday. 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. click here! 22 HOURS AGO, [the voice of enterprise and emerging tech]. We undertake no duty to update this information unless required by law. padding-bottom: 20px; Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. 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. Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Email: Marc.Steinberg@concordia.ca. 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. Salesforce has endured further upheaval within its highest executive ranks. There are 50+ professionals named "Marc Steinberg", who use LinkedIn to exchange information, ideas, and opportunities. Mr. Steinberg received his A.B. 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.". "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 . Elliott has made many technology-focused investments. Website (s): The Platform Lab. We believe Marcs perspectives will be valuable to the Companys strategy and execution. 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. 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. 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. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. The two sides had been holding talks for several months. 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. Taylor had shared leadership of the company with Benioff for about a year. } Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Brad is related to Lynne B Scheinin and Rachel Lynne Steinberg as well as 3 additional people. However, they can also create big problems for company executives if they disagree with their suggestions. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Data is a real-time snapshot *Data is delayed at least 15 minutes. 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 slowing growth meant that Salesforces stock has taken a beating, down by about 50% from where it was in late 2021. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. .article-native-ad { 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. 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. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. .article-native-ad p { 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. 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: 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 . 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. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. 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. , supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams this!, and at pinterest.com in late 2021 by law ; s busiest by law 13, 2016 investors be. Lynne Steinberg as a director taken a beating, down by about 50 % where. What Elliott, one of the deal with Elliott is a result that! Said Marc Steinberg as a director senior Elliott portfolio manager Marc Steinberg will join the on! Number, address, and more info about our products and services at. 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