Marc Steinberg is a Faculty at Massachusetts Institute for Psychoanalysis based in Brookline, Massachusetts. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. It has also agreed to nominate Mr. Steinberg for re-election at its 2023 annual meeting for a term expiring in 2026. and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. He added that he has "developed a deep respect for Marc Benioff and what he has built." See others named Jesse Cohn. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . 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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. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Sep 2018 - Present4 years 5 months. However, they can also create big problems for company executives if they disagree with their suggestions. Learn more. The second best result is Brad Lee Steinberg age 60s in Calabasas, CA in the Calabasas neighborhood. Got a confidential news tip? (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). Available on iOS and Android, and at pinterest.com. Elliott Management Corporation. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. 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. A Division of NBCUniversal. boAt Lifestyle: why this popular audio makers profit growth rate is declining, Choose your reason below and click on the Report button. The two sides . Taylor had shared leadership of the company with Benioff for about a year. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. 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. color:rgb(46,179,178); .article-native-ad strong { Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. 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. .article-native-ad svg { 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. 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. 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON . Elliott indicated that it hopes to cement a good working relationship with Benioff. We undertake no duty to update this information unless required by law. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. 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. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. 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. 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 . This field is for validation purposes and should be left unchanged. 2023 CNBC LLC. Mar. 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 . Clear rating. Rupert and Lillian Radford Professor of Law . This household appliance maker could see a technical bounce back from lows. Click here to join the free and open Startup Showcase event. padding:0!important; Salesforce has endured further upheaval within its highest executive ranks. 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. Business EnterprisesLegal Structures, Governance, and Policy: Cases, Materials, and Problems, Fourth Edition. The two sides had been holding talks for several months. SAN FRANCISCO--(BUSINESS WIRE)-- SMU Law Professor Marc Steinberg is a nationally recognized authority on securities law, corporate law and business ethics. The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. Elliott said in July that its stake in Pinterest topped 9%. All Rights Reserved. A good example is Pershing Square at ADP, which transformed that company into a much stronger investment. Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. 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. Campbells Soup Sales Were Declining. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Availability: Upon contact. $ + tax Equity Partner. Elliott Management Corp., the activist investor firm, has reportedly made a multibillion-dollar investment in Salesforce Inc. Its a move that will likely pile the pressure on Salesforce Chairman and co-Chief Executive Marc Benioff (pictured) as he struggles to restart the companys slowing growth. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . 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 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. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Senior Portfolio Manager at Elliott Management Greenwich, Connecticut, United States. Marc Steinberg is a Senior Portfolio Manager at Elliott. color: #ddd; The two sides had been holding talks for several months. from 8 AM - 9 PM ET. SOURCE Elliott Investment Management L.P. Cision Distribution 888-776-0942 from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. Elliott Investment Management L.P. manages approximately $55.7 billion of assets. .article-native-ad p { 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 Salesforce has already had to deal with one activist investor. View Marc Steinberg's profile on LinkedIn, the world's largest professional community. Get your daily dose of business updates on WhatsApp. (if applicable) for The Wall Street Journal. 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 . Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. 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. 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. 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: 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 is valued at $151.3 billion. 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. Website (s): The Platform Lab. 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. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singerin overseeing the global situational investing teams. Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. Marc Steinberg, a portfolio manager at Elliott, will join the board on December 16, Pinterest said. "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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 13 others named Jesse Cohn are on LinkedIn. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Marc Steinberg Joins Board as Independent Director. Things could certainly be going much better for Salesforce at present. 2/6/1952 - 7/1/2022. Carrier equipment maker Ericsson lets go 8,500 employees, Apple reportedly planning second-generation mixed reality headset for 2025, Report: Justice Department plans lawsuit to block Adobe's $20B Figma acquisition, Galaxy Digital finalizes $44M acquisition of crypto self-custody platform GK8, Meta releases LLaMA to democratize access to large language AI models, Dapper Labs cuts 20% more staff in a second round of layoffs, INFRA - BY MARIA DEUTSCHER . In addition, he admitted that the company had hired too many new staff as its revenue surged during the COVID-19 pandemic. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. Elliott Investment Management L.P. manages approximately $48 billion of assets. 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 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 . Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest's board of directors, effective Dec. 16. We believe Marcs perspectives will be valuable to the Companys strategy and execution. Jesse Cohn. Marc Steinberg is a Senior Portfolio Manager at Elliott. ", "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. 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. 4 2021, Published 3:06 p.m. To Read the Full Story Become an Adweek+ Subscriber, Elliott said in July that its stake in Pinterest topped 9%. 2022 Elliott Investment Management L.P. All rights reserved. To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. View the profiles of professionals named "Marc Steinberg" on LinkedIn. Already a member? Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. 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. "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 . He added that he has "developed a deep respect for Marc Benioff and what he has built." Elliott has made many technology-focused investments. View source version on businesswire.com: Sign up for free newsletters and get more CNBC delivered to your inbox. This will alert our moderators to take action. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts. . "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 . 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 . 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. NEW YORK - Pinterest on Tuesday said it reached a deal with Elliott Management, . 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.". Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. font-weight:500; Available on iOS and Android, and at pinterest.com. ", "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. Those extra employees are becoming a liability as Salesforces revenue growth slows. 2. Select this result to view Brad Lee Steinberg's phone number, address, and more. 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. 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Management has made a multi-billion dollar Investment in cloud-based software firm Salesforce, according people! Sides had been holding talks for several months supporting Jon Pollock and Paul Singerin overseeing the global situational investing.! Company had hired too many new staff as its revenue surged during the COVID-19.. Added Elliott portfolio manager Marc Steinberg & # x27 ; s phone number address! Target companys senior leadership, the Pinterest board of Directors expands to eight independent Directors and 11 members....