Salesforce Inc was heavily criticized by several activist investors in early 2023 but by the end of June, after results came in better than expected and a new director was added, filings show some cut their stakes or exited completely.
was heavily criticized by several activist investors in early 2023 but by the end of June, after results came in better than expected and a new director was added, filings show some cut their stakes or exited completely.
The changes in ownership came after significant overhauls at Salesforce helped push its share price higher. Pressure built on Salesforce and its CEO Marc Benioff during the first months of 2023. But cost cuts, news that it was boosting its share buybacks and dismantling its mergers and acquisition committee, plus stronger-than-expected fourth quarter growth went a long way to quiet the activists, sources familiar with the matter said.
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