Natalia Chi
SAN FRANCISCO–(COMMERCIAL THREAD)–Salesforce (NYSE: CRM), a global leader in CRM, today announced, as part of the ongoing board update process, the following appointments to the Company’s Board of Directors, effective March 1, 2023 :
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Arnold Donald, former chairman and chief executive officer of Carnival Corporation & plc;
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Sachin Mehra, chief financial officer of Mastercard; And
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Mason Morfit, managing director and chief investment officer of ValueAct Capital
Additionally, Sanford Robertson and Alan Hassenfeld notified the Company that they do not intend to run for re-election at the 2023 Salesforce Annual Meeting of Shareholders.
“We are thrilled to welcome Arnold, Sachin and Mason to the Salesforce board,” he said Marc Benioff, President and CEO of Salesforce. “As highly respected business leaders, they each bring valuable experience to further enhance and balance diverse competencies within the Board and advance our value creation initiatives. We look forward to benefiting from their experience and insights as Salesforce continues to drive sustained revenue and bottom line growth and solidify our position as the #1 CRM in the industry. 1 in the world”.
“The addition of these three new independent directors to our Board demonstrates Salesforce’s commitment to continued renewal in action,” said Robin Washington, Lead Independent Director of the Board. “Arnold’s proven cross-industry leadership experience, Sachin’s broad financial, technology and operational expertise and Mason’s investor perspective and record of helping public companies create long-term sustainable value will further strengthen the depth of expertise and the diversity of thought of our Council. Ensuring the right board is in place to lead the company’s strategy and oversee its ambitious goals continues to be a top priority. Over the past year, we have benefited from valuable input from our investors and we look forward to continuing this dialogue as we create value for Salesforce shareholders.”
ArnoldDonald said: “Salesforce is an innovator, game changer, and industry leader. I believe the Company is uniquely positioned to help its customers around the world succeed in their digital transformations and is well on its way to delivering added value to shareholders. I look forward to bringing my expertise in industries driving operational and business transformations and look forward to partnering with the Board to oversee and advance important ongoing efforts.”
Sachin Mehra said: “With a solid foundation in place and a powerful platform, Salesforce has many exciting opportunities to accelerate profitable growth. Salesforce shares my commitment to technology-centric and customer-centric innovation, and I look forward to helping the company continue to advance its strategic vision. The Salesforce board of directors is top notch and I am honored to become a member.”
Freemason Morfit says: “Salesforce has always stood out to us through its business model and technical innovations, its values and its culture. Salesforce is one of the world’s leading software companies, driving digital transformations in the global economy. We have enjoyed working with Marc and the team and look forward to helping them deliver profitable growth and shareholder returns.”
Benioff concluded, “On behalf of Robin, myself and the entire Board, I would like to express my deepest gratitude to Sandy and Alan for their incredibly valuable service as filmmakers. They have been instrumental in transforming Salesforce from a small cloud-based software company into a ~$150 billion global leader in CRM. Their insights have helped us navigate through countless pivotal moments, including launching our IPO and overseeing the company’s growth to industry leadership in more than a dozen product categories. Their brand will forever be rooted in the rock of Salesforce.”
About Arnold Donald
Arnold W. Donald is a recognized leader who brings to the Salesforce Board extensive experience in strategic planning, operations and distribution at large global companies, along with experience in corporate governance and risk management. Mr. Donald has had a distinguished business career spanning nearly four decades and has held senior management positions in various industries.
Donald most recently served as Chairman and CEO of Carnival Corporation & plc from 2013 to 2022, leading the world’s largest cruise line before moving on to the role of Vice Chairman of the Board of Carnival Corporation & plc until November 2022. As as CEO, oversaw the return to service of Carnival’s fleet following the COVID-19 pandemic and led the company to post-pandemic results, including the highest profits in its history. He has also helped reshape the company’s fleet profile with more efficient and environmentally advanced vessels. Mr. Donald was appointed Chief Executive Officer having served on the board of Carnival Corporation since 2001 and on the board of Carnival plc since 2003.
Earlier in his career, he held a variety of senior leadership positions across industries, including CEO positions at The Executive Leadership Council, The Juvenile Diabetes Research Foundation International, and global manufacturer Merisant Company, in addition to more than 23 years in several senior leadership positions at Monsanto, culminating in his position as senior vice president and president of nutrition and consumer business.
Mr. Donald is chairman of the World Travel and Tourism Council and has extensive experience as a director of public companies, including currently serving on the board of directors of Bank of America Corporation. He previously served on the boards of Crown Holdings, Inc., Laclede Group (now Spire Global, Inc.), Oil-Dri Corporation of America, ScottsMiracle-Gro Company, Russell Corp, LLC, Belden Inc. and Strategic Distribution , Inc., among others.
Mr. Donald holds a BA from Carleton College, a BA in Mechanical Engineering from Washington University in St. Louis, and an MBA from the University of Chicago Booth School of Business.
About Sachin Mehra
Sachin Mehra is a prominent business executive who has risen through the ranks and held various leadership roles including more than 12 years at Mastercard. He brings deep technology, finance, and operational experience at a large, customer-focused public company to the Salesforce board, along with global professional experience in locations including New York, Belgium, Singapore, and China.
Mr. Mehra currently serves as the Chief Financial Officer of Mastercard, a position he has held since April 2019. In his role and as part of the Company’s management committee, Mr. Mehra is responsible for corporate controller, tax, internal audit and investor relations, strategy, mergers and acquisitions, financial planning and analysis, treasury, risk management, global supply chain, business unit finance and regional finance operations.
Prior to his tenure at Mastercard, Mehra spent three years at Hess Corporation, where he left to serve as vice president and treasurer. Prior to that, he was General Manager, New York Treasurers Office at General Motors.
Mr. Mehra holds a B.Com from the University of Mumbai and an MBA from the University of Virginia, Darden School of Business.
About Mason Morfit
Mason Morfit is a Partner, Chief Executive Officer and Chief Investment Officer of ValueAct Capital, a San Francisco-based investment firm with more than $12 billion in assets under management.
Mr. Morfit has experience serving on boards of directors since 2005 and is a former director of Microsoft Corporation, Advanced Medical Optics, Inc., CR Bard, Inc., Immucor, Inc., MSD Performance, Inc., Solexa, Inc. and Valeant Pharmaceutical International.
Prior to joining ValueAct Capital in January 2001, Morfit worked in equity research for Credit Suisse First Boston, where he focused on the managed care industry. He has also lectured on corporate governance issues and executive compensation at the Director’s College of Stanford Law School, the Graduate School of Business at Stanford University and the Haas School of Business at the University of California, Berkeley.
Morfit is an advisory board member of Princeton University’s Woodrow Wilson School of Public and International Affairs and serves on the Tipping Point Community Board of Trustees.
Mr. Morfit holds a BA in Political Economy from Princeton University.
About Salesforce
Salesforce, the global leader in CRM, empowers businesses of all sizes and industries to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
