Third Point Has a Stake in Salesforce
Dan Loeb’s Third Point is the fifth known activist shareholder with a position in the software company’s shares....
....Third Point joins Elliott Investment Management LP, Starboard Value LP, ValueAct Capital Partners LP and Jeff Ubben‘s Inclusive Capital as an investor in Salesforce...
https://www.wsj.com/articles/third-point-llc-has-a-stake-in-salesforce-11675892173
A decent chance that Marc loses the board in June and the investors take over at light speed
NEW YORK, Feb 13 (Reuters) - Inclusive Capital Partners, one of a handful of activist investors pushing for changes at Salesforce, bought 1.6 million shares in the cloud-based software company in the fourth quarter, a regulatory filing shows.
Jeff Ubben founded Inclusive Capital after leaving ValueAct Capital and this is the fund's first investment in Salesforce. ValueAct is also invested in Salesforce. Ubben's handpicked successor at ValueAct, Mason Morfit, will soon join the Salesforce board.
Inclusive and ValueAct are both based in San Francisco as is Salesforce. The investors have known Salesforce CEO Marc Benioff for years and have spoken with him about changes.
The two firms are known for a more collaborative style in pushing for change at the companies they invest with.
Starboard Value and Elliott Management also approached Salesforce with ideas on improving the business. Third Point is also invested in the stock.
I can confirm the messaging regarding performance was "ruthless" in the company sales kickoff. At least people are not saying "ohana" anymore. all bullsh-t. Admit it's cutthroat, but don't choke employees with the Ohana sh-t.