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Zendesk Inc is in talks to settle with activist investor Jana Partners, which could involve Mikkel Svane stepping down as chief executive and some changes to the board, according to a report by the Wall Street Journal on Tuesday.
Shares of Zendesk Inc. ZEN, -4.92% rose more than 4% in the extended session Tuesday after The Wall Street Journal, citing people familiar with the matter, said that the software company is in talks with activist investor Jana Partners LLC. Zendesk and Jana are "discussing a truce" that could involve Chief Executive Mikkel Svane stepping down, in addition to changes to the board, including removing director Carl Bass, the Journal reported.
The cloud-based CRM company faces a lot of near-term challenges.
The company will remain independent after failing to find a buyer.
Zendesk, Inc. (NYSE: ZEN) shares are trading lower after the company announced the board has unanimously determined it will continue to execute its strategic plan as an independent, public company following the company's comprehensive review of strategic alternatives. Zendesk's financial.
Shares of Zendesk Inc. ZEN, -6.92% dove 5.6% toward a two-year low in premarket trading Thursday, after the customer-service software company said it decided not to pursue a sale, as "no actionable" buyout proposals were received. The company said as part of a strategic review to enhance shareholder value, the company reached out to 26 potential buyers and partners, including 16 potential strategic partners and 10 financial sponsors and a group of investors who had previously expressed interest in a purchase.
SAN FRANCISCO--(BUSINESS WIRE)--Zendesk, Inc. (NYSE:ZEN) today announced its participation in several upcoming investor conferences. JP Morgan Global Technology, Media & Communications Conference Shelagh Glaser, Chief Financial Officer, and Jason Tsai, Head of Investor Relations, will present in-person on Tuesday, May 24, 2022. Zendesk's presentation is scheduled for 10:50 a.m., Eastern Time. Cowen TMT Conference Jason Tsai, Head of Investor Relations, will present in-person on Wednesday, J
Zendesk, Inc. (NYSE:ZEN ) Q1 2022 Earnings Conference Call April 28, 2022 5:00 PM ET Company Participants Jason Tsai - Head of Investor Relations Mikkel Svane - Founder, Chairman & Chief Executive Officer Shelagh Glaser - Chief Financial Officer Conference Call Participants Arjun Bhatia - William Blair Jeff Van Rhee - Craig-Hallum Ryan MacWilliams - Barclays Derrick Wood - Cowen Parker Lane - Stifel Samad Samana - Jefferies Brent Bracelin - Piper Sandler David Hynes - Canaccord Taylor McGinnis - UBS Elizabeth Porter - Morgan Stanley Ryan Krieger - Wolfe Pat Walravens - JMP Jason Tsai [Abrupt Start] …Investor Relations at Zendesk. Joining me on the call today are Mikkel Svane, our Founder and CEO and Chair of the Board; and Shelagh Glaser, our Chief Financial Officer.