Salesforce says Elliott will not nominate directors to board

Salesforce Inc said on Monday activist investor Elliott Management Corp has decided to not proceed with director nominations to the board of the cloud-based software provider, due to its strong earnings and 2024 transformation initiatives.

Elliott had nominated a slate of directors to Salesforce's board, Reuters reported earlier this month.

Elliott, which invests more than $55 billion, was interviewing a number of people including technology industry executives and executives in other industries for Salesforce's board, Reuters had reported citing sources.


Jesse Cohn, managing partner at Elliott, had said that he was looking forward to working "constructively" with the company and that he has "developed a deep respect for Marc Benioff," Salesforce's co-founder and co-chief executive.

Elliott has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest, Twitter and eBay.