Activist investor Elliott Management wants to appoint board members at Salesforce, according to a Wall Street Journal report based on insider sources. The investor is said to be keen on more influence over the ins and outs of the CRM giant.
According to the Wall Street Journal, Elliott Management has been busy screening executives for positions on Salesforce’s board. The investor reportedly has the opportunity to nominate candidates between February 12 and March 14. Appointed board members would be right on time for Salesforce’s annual shareholder meeting.
Billion-dollar stake in Salesforce
Earlier this week, it became clear that the activist investor had taken a billion-dollar stake in Salesforce. Elliott said it wants to extract more value from the company. The parties are now said to be in talks.
Elliott often take shares in companies to gain a position in the board and exert influence. Whether this will happen at Salesforce is currently unknown. The sources say it’s also possible that the parties reach an agreement that averts influence from Elliott.
Tip: Activist investor Elliott Management acquires stake in Salesforce