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Activist investor Elliott<\/a> Management Corp has nominated a slate of directors to the board of cloud-based software provider Salesforce Inc<\/a>, a source familiar with the matter said on Wednesday.
The source declined to name Elliott's director candidates or say how many there were.
Elliott said it has been in substantive dialogue with Salesforce<\/a> leading up to its earnings statement, and \"today's announcements represent progress towards regaining investor trust\".
\"The acceleration of margin targets, commitment to responsible capital-return priorities, creation of a business transformation committee and disbanding of the M&A committee are necessary steps forward,\" Elliot said in a statement without making any reference to board nominations.
The steps are consistent with our recommendations, the activist investor said, adding that they will help restore value at Salesforce.
The software provider forecast its first-quarter revenue above analysts' estimates and doubled its share repurchase to $20 billion, indicating a strong cash flow.
Elliott also took an aim at Salesforce's leadership, stating that it required a sustainable plan and a board that would provide accountability through proper oversight.
\"To fully earn back the confidence and support of investors, Salesforce leadership must now deliver on its promises.\"
The hedge fund said it intends to continue working with Salesforce as they evaluate the \"level of engagement necessary to achieve the best outcome for the company\".
Elliott became the latest activist investor to establish a position in Salesforce when it unveiled its multi-billion dollar stake in January.
Other hedge funds with stakes include Jeff Ubben's Inclusive Capital Partners, Jeff Smith's Starboard Value<\/a>, ValueAct Capital and Third Point.
Some activists have pushed for the company to increase growth and margins, buy back more shares, and raised concerns about recent acquisitions.
Salesforce could not be reached for comment.
News of the nominations was first reported by CNBC.
To address some of its issues, the company had been working for months to refresh its board and earlier this year added three new directors. These include ValueAct Capital's Chief Executive and Chief Investment Officer Mason Morfit, Mastercard finance chief Sachin Mehra, and former Carnival Corp CEO Arnold Donald.
Morfit helped to boost Microsoft's market value when he served on the board from 2014 to 2017.
The slate nominated by Elliott signals the pressure such an investor can bring to bear on its target, analysts said, noting that many are using this tool more frequently.
Salesforce, valued at $164 billion, said in January it planned to cut a tenth of its jobs and close some offices after rapid pandemic hiring left it with a bloated workforce.
Tech companies have shed more than 150,000 workers in 2022. Other technology giants such as Meta Platforms Inc, Google parent Alphabet Inc<\/a> and Microsoft Corp have also announced job cuts in recent months.
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- Telecom乐动扑克News
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艾略特Salesforce董事会提名提名的董事会
“利润目标的加速度,承诺负责任的资本回报的优先级,创建一个业务转型委员会和解散的并购委员会是必要的步骤,”艾略特在一份声明中表示不做任何参考董事会提名。
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维权投资者艾略特管理公司提名的董事向董事会基于云的软件提供商Salesforce公司一位知情人士周三表示,。
源拒绝透露艾略特的董事候选人或说有多少。
艾略特表示,它一直在实质性的对话Salesforce导致其收入声明,“今天的公告是进展重新获得投资者的信任”。
“利润目标的加速度,承诺负责任的资本回报的优先级,创建一个业务转型委员会和解散的并购委员会是必要的步骤,”艾略特在一份声明中表示不做任何参考董事会提名。
符合我们的建议的步骤,维权投资者说,他们将帮助恢复在Salesforce的值。
软件提供商预测第一季度收入高于分析师的预期,股票回购翻番至200亿美元,表明一个强大的现金流。
艾略特也瞄准了Salesforce的领导下,说明它需要一个可持续发展的计划和董事会提供通过适当的监督问责。
“完全赢回投资者的信心和支持,Salesforce领导现在必须兑现其承诺。”
对冲基金表示,它打算继续工作与Salesforce评估”水平的参与必要的为公司实现最好的结果”。
艾略特成为最新维权投资者建立一个位置在Salesforce在1月份公布了数十亿美元的股份。
其他对冲基金股权包括杰夫Ubben的包容性Capital Partners,杰夫史密斯的右值,ValueAct资本和第三点。
一些活动人士推动公司增长和利润率,增加回购股票,担忧最近收购。
Salesforce无法置评。
乐动扑克由CNBC首次报道新闻的提名。
解决一些问题,公司已经工作几个月来刷新其董事会和今年早些时候增加了三个新的董事。这些包括ValueAct资本首席执行官和首席投资官梅森Morfit Sachin用万事达首席财务官,嘉年华集团前首席执行官阿诺德·唐纳德。
Morfit促进了微软的市场价值时,他从2014年到2017年在黑板上。
石板提名艾略特这样的一个投资者可以施加的压力信号的目标,分析人士指出,许多人更频繁地使用这个工具。
Salesforce,价值1640亿美元,在1月份时宣布计划削减十分之一的工作和关闭一些办公室后迅速流行雇佣了一个庞大的劳动力。
科技公司在2022年解雇了150000多名工人。元平台等科技巨头公司,谷歌的父母字母公司和微软(msft . o:行情)也宣布裁员近几个月。
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