Salesforce’s Marc Benioff Sees Jump in Investor Support After 61% Rally
- Stock has jumped 61% with new focus on boosting profit
- Company pitches artificial intelligence tools as growth engine
Marc Benioff
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Salesforce Inc. shareholder support for Chief Executive Officer Marc Benioff grew in the past year following a tussle with activist investors who pushed for spending cuts and greater profits.
Fewer stockholders backed a proposal suggesting the board be led by someone other than a current or former CEO than voted last year. The nonbinding proposal, which is effectively a referendum on whether Benioff should continue to hold the role of board chairman, received about 23% of the vote at the company’s annual meeting June 8, compared with just less than 37% a year ago, according to regulatory filings.