Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management.
As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterest’s board of directors, effective Dec. 16.
Elliott said in July that its stake in Pinterest topped 9%.
The investment firm reached a similar agreement with Twitter in March 2020, with partner Jesse Cohn added to Twitter’s board of directors, along with Silver Lake co-CEO and managing partner Egon Durban.
Pinterest CEO Bill Ready said in a statement, “We’d like to welcome Marc to the Pinterest board following our collaborative dialogue with Marc, Jesse Cohn and Elliott over the past few months.
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