WEST
PALM BEACH, Fla., March 1,
2023 /PRNewswire/ -- Elliott Investment Management
L.P. (together with its affiliates, "Elliott") today released the
following statement on behalf of Managing Partner Jesse Cohn and
Senior Portfolio Manager Jason
Genrich regarding Salesforce, Inc. (NYSE: CRM) (the
"Company" or "Salesforce"):
Elliott has been in close, substantive dialogue
with Salesforce leading up to today's earnings statement.
Salesforce's set of announcements today represents 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. These steps are consistent
with our recommendations, and we believe they will help restore
value at Salesforce.
The strength of Salesforce's business and its
movement in the right direction are key reasons we are among the
company's top investors, but much work remains: Salesforce needs a
sustainable leadership plan and a board that demonstrates it can
provide accountability through proper oversight. To fully earn back
the confidence and support of investors, Salesforce leadership must
now deliver on its promises. Elliott intends to continue working
with Salesforce as we evaluate the level of engagement necessary to
achieve the best outcome for the company.
About Elliott
Elliott Investment Management L.P. manages more than
$55 billion of assets. Its flagship
fund, Elliott Associates, L.P., was founded in 1977, making it one
of the oldest funds under continuous management. The Elliott funds'
investors include pension plans, sovereign wealth funds,
endowments, foundations, funds-of-funds, high net worth individuals
and families, and employees of the firm.
Media
Contact:
Casey
Friedman
Elliott Investment Management
L.P.
(212)
478-1780
cfriedman@elliottmgmt.com
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SOURCE Elliott Investment Management L.P.