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Search resuls for: "Jesse Cohn"


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The bear market in stocks last year has opened up a new window for aggressive activist investors. Once high-flying tech stocks and beloved brand names are subject to unfamiliar pressure from billionaire activists. Marc Benioff of Salesforce and Bob Iger of Disney are the latest high-profile CEOs to face pressure. Nelson Peltz of the Trian Fund and Paul Singer of Elliott Management recently launched activist investor campaigns against Disney and Salesforce, respectively. Activist campaigns targeting firms of this size and caliber are uncommon, but their struggling share price has painted a target on management's back.
NEW YORK, Dec 6 (Reuters) - Pinterest on Tuesday said it reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a-kind agreement" and said the company "appreciates the perspective" Steinberg, Jesse Cohn, a managing partner at Elliott, and others at the firm bring. Pinterest's stock climbed 2.5% in after hours trading on the news that Elliott, one of the company's biggest investors, was joining the board. Elliott, one of the world's busiest activist investing firms, has extensive experience in the tech and social media sector as Cohn held board seats at Twitter and eBay (EBAY.O) and worked closely with Steinberg on those investments.
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