We feel they are ideally ideal for work with the remainder administrators to help you rehabilitate the company’s standing that have people and you can drive stockholder worthy of

We think he could be ideally suited to run the remainder administrators to rehabilitate the business’s position having people and you may drive shareholder worth

We feel they are essentially ideal for manage the remaining directors to rehabilitate the company’s reputation that have dealers and you will drive shareholder well worth

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(the new „Company”) explaining exactly what JANA thinks to be tall strategic and you will operational missteps with respect to this new Panel and you may announcing one to JANA keeps recognized and you will nominated four highly-qualified people to represent election on Panel during the Organization’s 2022 yearly appointment out of stockholders. A copy of the page try recorded herewith because the Exhibit step 1. Factual statements about the participants (due to the fact discussed inside Display 2) in just about any coming solicitation of proxies regarding your Organization is filed herewith once the Display dos.

Zendesk’s (new “Company”) very long effort to help you win support with the Momentive buy might have been fulfilled because of the vociferous and you can suffered rebuke. JANA Couples (“we”), other investors market-front experts keeps slammed and you may compared the acquisition. Past Friday we had been joined by the leading separate proxy advisory companies ISS and Glass Lewis, all of and that told Zendesk investors to help you vote Resistant to the transaction. To the February 25 th vote quickly approaching, we think Zendesk investors will ultimately be able to save yourself by themselves from their very own board by the voting on the Momentive purchase.

Although not, lasting ruin might have been done. We believe the board possess just about hoping you to definitely Zendesk often endure a long-term disregard in order to the intrinsic worth. New board indicates a reckless disregard to have shareholder money, an appearing readiness so you can resort to “suspicious reasoning” when confronted, and most recently reinforced concerns about its reputation for refusing to build relationships curious proper and you can economic people into Business. To your current panel on helm, we believe shareholders was perpetually in danger of exactly what Mug Lewis characterized because board’s “in a position, fire, aim” procedure.

To address the damage Zendesk’s panel has already inflicted into investors in order to avoid next spoil, we feel the board need to be replaced with capable fiduciaries otherwise contrary way and you can engage with interested strategic and you may financial people to offer the firm.

We are nominating Quincy Allen, Felicia Alvaro, Jeff Fox and Scott Ostfeld getting election into board on the business’s 2022 yearly appointment (biographical information below). This type of extremely accredited nominees render personal providers President, CFO, COO, board and you may money experience in application and technology, along with operational, means, M&An excellent, financing and you may governance sense. Should you wish to speak about this dilemma next, we are able to end up being attained from the (212) 455-0900.