Activist investor Elliott holds off board-level influence at Salesforce
— Elliott has had a change of heart. Salesforce and Elliott have now committed to continuing the productive working relationship they have developed together, the statement adds.
In a statement, Jesse Cohn, managing partner of Elliott, said: “I have great respect for Marc and his team, and I have become deeply impressed by their strong ongoing commitment to profitable growth, responsible capital return and an ambitious shareholder value creation plan.” Marc Benioff, chair and CEO of Salesforce, said: “I have thoroughly enjoyed getting to know Jesse and the Elliott team over the last few months, and I am grateful for Jesse’s mindful and constructive ideas. I look forward to continuing my relationship with Jesse and the Elliott team.”closer to the industry-leading figures of 40 percent and above enjoyed by Microsoft and Oracle. Salesforce currently records margins of 20.4 percent and has set a target of 25 percent operating margin.
. It has since been joined by four more activist investors, including Third Point Capital, Mason Morfit's ValueAct, Jeff Ubben's Inclusive Capital, and Dan Loeb's Third Point.
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