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Proof Mark, Inc. Issues Fiduciary Letter to Salesforce CEO Marc Benioff Over Governance Concerns and Board Silence on Red Flags

1. PMI issued an open letter addressing governance issues at Salesforce. 2. Salesforce board has not responded to four Red Flag Notices. 3. PMI emphasizes fiduciary concerns for shareholders and ecosystem stakeholders. 4. A dedicated microsite provides updates and governance data for stakeholders. 5. PMI aims to catalyze awareness of Salesforce's governance challenges.

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FAQ

Why Bearish?

The lack of board responsiveness raises concerns about corporate governance, which can deter investors, akin to past reactions to similar governance failures at other tech firms.

How important is it?

Concerns around governance can lead to volatility and erode investor confidence, making this issue critical for CRM's stock outlook.

Why Short Term?

Immediate shareholder concerns and governance standings may affect stock price quickly, similar to past market reactions to governance alerts.

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SAN FRANCISCO--(BUSINESS WIRE)--Proof Mark, Inc. (PMI), a longtime Salesforce (NYSE: CRM) partner and shareholder, today announced that the company has issued an important open letter to Salesforce chairman and CEO Marc Benioff. The letter addresses a range of critical operational and fiduciary issues which have been raised by PMI in four consecutive Red Flag Notices issued under the Delaware Chancery Court ruling in the re McDonald’s Corp. Stockholder Derivative Litigation and related cases. As both a Salesforce shareholder and long-standing ISV partner, PMI brings a dual fiduciary and ecosystem perspective to these concerns. To date, Salesforce’s board has not responded to any of the Red Flag notices, a silence exceeding 30 days and raising serious fiduciary concerns for shareholders, regulators, and ecosystem stakeholders, especially those with a special interest in the governance and performance of the company. Substack Microsite and Ongoing Transparency PMI has launched a dedicated Substack microsite to provide updates, including commentary and documentation relevant to investors, partners, analysts, regulators, and platform leaders. The letter and related materials can be accessed at: https://proofmarkinc.substack.com/ PMI will continue publishing additional disclosures and ecosystem governance data as long as necessary to catalyze awareness and change. PMI encourages shareholders, analysts, and regulatory stakeholders to review these materials and assess their implications for Salesforce's governance trajectory.

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