Salesforce avoids proxy fight with Elliott after improved results

By Svea Herbst-Bayliss

Technology
Monday, 27 Mar 2023
4:16 PM MYT

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FILE PHOTO: FILE PHOTO: The company logo for Salesforce.com is displayed on the Salesforce Tower in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid/

(Reuters) - Salesforce Inc and Elliott Management on Monday reached an agreement where the activist investor ends its board room challenge as the software company focuses more on boosting profits and efficiency.

The announcement made by both sides comes less than a month after Elliott nominated a slate of director candidates and Salesforce reported stronger than expected financial results and made promises for more cost cuts.

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Salesforce avoids proxy fight with Elliott after improved results