Marc Benioff says every CEO in Silicon Valley has asked themselves if they 'need to unleash their own Elon'
by capping headcount growth, reducing general and administrative expenses, sales and marketing spending, and cutting back on real estate.
Salesforce reported strong quarterly results on Wednesday, announced a big new share buyback, and signaled that it would back off big acquisitions for the time being. The report showed that Benioff's new efficiency drive is showing signs of success. After co-CEO Bret Taylor left Salesforce in late November, Benioff said he got more involved in the company's operations.
Benioff still hasn't satisfied Elliott Management, one of the activist investors that have built a large stake in Salesforce in recent months. Elliott said on Wednesday that the company needs a"Since he co-founded Salesforce in 1999, Benioff has led with an emphasis on growth for most of that time, and some insiders are concerned that he's not up for the task of cost cutting.
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