tyb
Twitter names ex Google CFO Pichette as chair, Kordestani to stay on
Twitter Inc TWTR.O on Tuesday appointed Patrick Pichette, a former chief financial officer at Google, as the social network’s board chairman, marking the first time in Twitter’s history that an outsider will preside over the group. Pichette, who had been Twitter’s lead independent director since the end of 2018, will replace Omid Kordestani in leading the directors as chairman. Kordestani supervised the board and had more day to day involvement with the company as executive chairman for nearly five years. Kordestani will stay on as a director, serving on the 11-member board alongside three new directors.
The move comes three months after Elliott Management, the $40 billion hedge fund, had sought to oust CEO Jack Dorsey, pushed for improved corporate governance and wanted to see a higher share price. The two sides reached an agreement in early March that let Dorsey stay, for now, and handed board seats to Elliott among others. Investors have been increasingly pushing for outsiders to preside over boards.
Pichette is expected to bring greater scrutiny of management and a stronger focus on financial matters to the company. Jesse Cohn, who lad Elliott’s campaign, Egon Durban, Silver Lake’s co-chief executive, and artificial intelligence expert Fei-Fei Lei joined the board as part of the deal.
Social media platforms have been under intense scrutiny lately over how they police the spread of false information, and Twitter and Dorsey made headlines by taking on President Donald Trump, Twitter’s most famous user.
Trump, who accuses social media firms of bias against conservatives, without evidence, stepped up attacks on Twitter after it put fact-checking labels on Trump tweets.
Trump signed an executive order threatening Silicon Valley social media firms with new free speech regulations.
https://www.reuters.com/article/us-twitter-board/twitter-names-ex-google-cfo-pichette-as-chair-kordestani-to-stay-on-idUSKBN2392YS
Workday, Inc. co-founder /Chairman of Board sold: $50m-June 1
Workday Inc. is specialized in the publishing of cloud-based management software for businesses, educational institutions and government bodies. The group offers financial management and human resources and analytical solutions for the finance, technology, communications, professional services, healthcare, pharmaceuticals, insurance, manufacturing, distribution, hotel, higher education and government administration sectors.
Net sales by source of income break down between sales and subscriptions (85.4%) and professional services (14.6%).
75.6% of the revenue is generated in the United States.
Number of employees : 12 200 people.
https://www.marketscreener.com/WORKDAY-INC-37866670/company/
Duffield founded PeopleSoft in 1987 and served as the company's CEO and board chairman. PeopleSoft grew to be the world's second-largest application software company before being acquired by Oracle in January 2005.
n March 2005, Duffield and former PeopleSoft vice chair and head of product strategy, Aneel Bhusri, started Workday, Inc., a company that provides financial management and human capital management software delivered in a software as a service (SaaS) model. The company is headquartered in Pleasanton, California, and employed approximately 1,000 people in 2011, with Duffield and Bhusri serving as co-CEOs at Workday. Duffield is also the company's chief customer advocate.Duffield relinquished the co-CEO role in May 2014, and became chairman of the board.
https://www.finviz.com/insidertrading.ashx?oc=938071&tc=7&b=2