Tableau's CEO left after 20 months on the job Salesforce did not replace him.
In addition, the CRM giant's $15.7 billion acquisition of Tableau has been challenged by integrating Tableau's largely on-premises technology into Salesforce's cloud-native infrastructure.
In particular, integrating Slack into Salesforce after the $27 billion acquisition hit turbulence with the departure of Slack CEO Stewart Butterfield two years after the sale and only a week after Benioff's former co-CEO Bret Taylor quit. They also moved in directly after management upheaval and trouble following the expensive acquisitions of workplace collaboration vendor Slack and analytics vendor Tableau. "This gives them a short-term stock boost that leaves companies often in worse position than when they started."Įlliott and Starboard's move on Salesforce comes not only as the vendor's financial picture has worsened. "What these shareholders often do is cut R&D investment, sales and marketing expenditures, and long-term projects," he said. "Ray" Wang, founder and analyst at Constellation Research. "These activist investors only care for short-term profit at the expense of the long-term mindset of the founder/CEO," said R. One high-profile example is Jack Dorsey, who resigned from Twitter less than two years after Elliot Management gained a large stake in the company. Meanwhile, founder and CEO Marc Benioff, owning only 2.7% of the company he founded in 1999, could be in a precarious position given Elliott's history of forcing out CEOs of the tech companies it has targeted over the years. It was a move seen as pre-emptive to Elliott's tactic of gaining seats on the boards of the companies it targets. 2, replaced three of its own board members last week. Salesforce, which laid off 8,000 employees in early January and several thousand more on Feb. The company's C-suite has undergone significant changes in recent months, and its clear more change is ahead. It's too soon to tell whether the intervention by Elliott and Starboard Capital will stymie innovation and R&D investment at Salesforce or stabilize the once-soaring tech titan, whose market value and stock price has plummeted over the past year.
0 kommentar(er)
