To cut costs and improve profitability, Salesforce announced a broader restructuring plan in early January 2022. Starboard believes that CRM has not taken advantage of its position as a market leader and lags in profitability compared with its peers. The activist investor Starboard Value disclosed taking a significant stake in the business software maker in October 2022 to increase profitability. Hedge fund Elliott Investment Management has bought a multi-billion-dollar stake in the enterprise software company, Salesforce CRM, The Wall Street Journal reported citing people familiar with the matter.Įlliot’s latest stake buyout is expected to raise pressure on Salesforce management to make operational improvements and increase profit margins.
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