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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. (if applicable) for The Wall Street Journal. He is responsible for public and private equity investments across a range of industries, including the technology, media and . Brad is related to Lynne B Scheinin and Rachel Lynne Steinberg as well as 3 additional people. You will be notified in advance of any changes in rate or terms. Marc Steinberg is a Senior Portfolio Manager at Elliott. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. 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.. Sign In. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. Elliott has made many technology-focused investments. } We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Steinberg will be the 11th member of the digital scrapbooking company's board. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under . 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. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singer in overseeing the global situational investing teams. The rupee, too, declined to its lowest in more than four months amid an evident softness in local risk assets. The hedge fund and Salesforce did not immediately respond to a Reuters request for comment, and Elliott declined to comment. Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. line-height:1.5; Pinterest CEO Bill Ready, who took the job . 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 . To interview this expert: Call 214-768-7650 or e-mail news@smu.edu. You may cancel your subscription at anytime by calling "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. We undertake no duty to update this information unless required by law. Already a member? Mr. Steinberg received his A.B. "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. 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. /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an approximately $1 . By Dan Clarendon. 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. Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. 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. View the profiles of professionals named "Marc Steinberg" on LinkedIn. 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. 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 December 16, Pinterest said. margin: 0 45px; Your Reason has been Reported to the admin. Elliott Investment Management L.P. manages approximately $48 billion of assets. "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. 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. He added that he has "developed a deep respect for Marc Benioff and what he has built." 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. Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. Elliott Management Corporation. The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. 18 HOURS AGO, POLICY - BY MARIA DEUTSCHER . Mark Steinberg Earns $20 Million a Year Representing Tiger Woods and Other Athletes. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. "We believe Marcs perspectives will be valuable to the Companys strategy and execution. New York, New York. 13 others named Jesse Cohn are on LinkedIn. from 8 AM - 9 PM ET. Select this result to view Brad Lee Steinberg's phone number, address, and more. . 4 2021, Published 3:06 p.m. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. The two sides had been holding talks for several months. We want to hear from you. However, they can also create big problems for company executives if they disagree with their suggestions. You may change your billing preferences at any time in the Customer Center or call We undertake no duty to update this information unless required by law. } We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. 2022 Elliott Investment Management L.P. All rights reserved. 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. 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. Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg issued a statement commending Stephenson, Lead Director Matt Rose and the entire board and management team. Learn more. font-size: 34px; 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. margin-top: 10px; 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. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. 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. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. .article-native-ad svg { Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. Sep 2018 - Present4 years 5 months. But that is partially good news for Tata, Ashok Leyland. font-weight:500; According to regulatory filings, Elliott owns nearly 3% of common stock, making up a portion of its total stake of more than 9%. Neil Doshi 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. 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