Salesforce has appointed three new directors to its board as activist investor Elliott Management prepares to nominate new directors.
According to sources, the investment firm has made a multibillion-dollar investment in Salesforce.
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- Salesforce has appointed Arnold Donald, former CEO of Carnival Corporation; Sachin Mehra, CFO of Mastercard; and Mason Morfit, CEO of ValueAct Capital.
- Salesforce chair and CEO Marc Benioff said the new directors bring valuable experience to further enhance and balance the diverse skills on the company’s board and advance its value-creation initiatives.
- Current Salesforce board members Sanford Robertson, co-founder of buyout group Francisco Partners, and Hasbro chair emeritus Alan Hassenfeld will step down.
- Benioff has been under pressure to improve the company’s performance after several activist investors disclosed they had built positions in the company.
- In October, Starboard Value, run by Jeff Smith, disclosed it had taken a stake in Salesforce.
