Salesforce the global leader in CRM, and Elliott Investment Management L.P. issued a joint statement regarding the Company’s 2023 Annual Meeting of Stockholders and related director elections. In light of the Company’s previously announced “New Day” multi-year profitable growth framework, strong fiscal year 2023 results, fiscal year 2024 transformation initiatives, Board and management actions and clear focus on value creation, Elliott decided not to proceed with director nominations, and Salesforce and Elliott have committed to continue the productive working relationship they have developed together.
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“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.”
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.”
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. We look forward to continuing our productive relationship with Marc and the Salesforce team as they accelerate the Company’s transformation.”
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Salesforce’s upcoming annual meeting will proceed in the ordinary course. Salesforce stockholders are not required to take any action at this time. Salesforce appreciates the collaborative input received from its investors and many other stakeholders.
“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the Company’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.
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