There are growing expectations that Salesforce is readying a succession plan to appease activist investors. 'There's not a lot of people sitting on the bench,' one analyst said.
that Salesforce and Elliott were in talks to potentially end a tussle over the software company's board. One possible option would be a revitalized board that focuses on improving margins while also considering succession planning. Benioff will announce succession plans for Salesforce soon. While Cramer's investment advice isn't always revered by the Silicon Valley elite, he and Benioff do have a relationship.
"Benioff is Salesforce and Salesforce is Benioff," said Dan Ives, an analyst at Wedbush Securities. He added that announcing a succession plan for Benioff isn't about forcing his ouster, but giving"investors comfort that the next stage of growth is on the horizon." However, that culture has recently been criticized for encouraging its employees to view each other and the corporation as 'ohana,' a Hawaiian term for family. Benioff has also upset employees with Slack posts suggesting they haven't been as productive since the start of the pandemic. Taylor's departure in late November left Salesforce with a limited bench of potential successors.
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