Jana Partners again presses Zendesk to set annual meeting date

Momentive Global

07/04/2022 20:33

BOSTON, April 7 (Reuters) - Activist investment firm Jana
Partners on Thursday again urged the board of software company
Zendesk Inc  ZEN.N  to set a date for its annual meeting,
arguing it is hurting shareholders by dragging the process out.
    New York-based Jana Partners, which owns roughly 2% of the
company, on Thursday asked Zendesk's board "to put an end to its
transparent and costly entrenchment tactics and immediately
schedule a date for its 2022 annual meeting."
    Since 2017, Zendesk's annual meeting has been held between
May 16 and May 29 with the 2021 meeting held on May 18,
regulatory filings show.
    A Zendesk representative declined to comment.
    Six weeks ago Zendesk shareholders rejected the company's
plans to buy SurveyMonkey parent Momentive Global  MNTV.O  and
Jana Partners wrote on Thursday that it believes the board is
trying to deflect responsibility for the loss.
    At a conference last month, Zendesk's chief financial
officer appeared to blame the pandemic for being out of touch
with investors, the letter said, adding that there has been
plenty of public and private shareholder feedback.
    Jana Partners nominated four directors to the board and all
shareholders would be voting on those nominees at the annual
meeting. The firm said again that the need for change at Zendesk
is "abundantly clear" and reiterated that if there isn't
sufficient change the company "should be sold."

 (Reporting by Svea Herbst-Bayliss; editing by Bernard Orr)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))