Pinterest reaches deal with activist Elliott; Steinberg to join board

A display for image sharing and social media service Pinterest is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. REUTERS/Chris Helgren/File Photo

NEW YORK (Reuters) - Pinterest on Tuesday said it reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company.

Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. The two sides had been holding talks for several months.