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Salesforce’s Marc Benioff pledges to put profits first amid activist face-off

Software company Salesforce faces pressure from activist investors and pledges to put profits first. Company posted fourth-quarter revenues of $8.4bn and higher than expected adjusted margins of 22.5%. Elliott Management nominated a slate of directors to Salesforce’s board.

1 min read
  • Salesforce's Marc Benioff pledges to focus on profits in response to pressure from 5 activist investors.
  • Shares up more than 12% in early trading Thursday.
  • Company disbanded its Mergers and Acquisitions committee and no longer targeting $50bn in revenue by 2026.
  • Fourth-quarter revenues of $8.4bn, against expectations of $7.99bn, and higher than expected adjusted margins of 22.5%.
  • Elliott Management nominated a slate of directors to Salesforce’s board.
Salesforce’s Marc Benioff pledges to put profits first amid activist face-off
Software company’s shares jump on better than expected results after Elliott raised pressure with board nominees
Financial TimesOrtenca Aliaj

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