Salesforce appointed three new directors to its board on Friday as the software giant seeks to fend off criticism from activist investors and turn round a business being hit hard by the broader tech downturn. The San Francisco-based group has appointed Arnold Donald, former chief executive of cruise operator Carnival Corporation, Sachin Mehra, chief financial officer of Mastercard and Mason Morfit, chief executive of ValueAct Capital, an activist fund that is also an investor, according to people familiar with the matter. “As highly respected business leaders, they each bring valuable experience to further enhance and balance the diverse skills on the board and advance our value-creation initiatives,” said Marc Benioff, chair and co-chief executive of Salesforce.
Activist investor Elliott Management Corp looked to nominate a slate of directors at Salesforce, Inc (NYSE: CRM), signaling a fight for board seats at the firm. Elliott discussed with numerous technology executives and those with other industry backgrounds, the Wall Street Journal reports. Elliott just made a multibillion-dollar investment in Salesforce. Elliott managing partner Jesse Cohn said he looked forward to "working constructively" with a company he had followed for nearly two decades. E
The drama at Salesforce picks up a notch.