PayPal Holdings said on Tuesday Elliott Investment Management has an over $2 billion investment in the company, making the activist investor one of the largest shareholders in the fintech firm.
The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts. PayPal has"an unmatched and industry-leading footprint across its payments businesses," said Jesse Cohn, a managing partner at Elliot, a day after the investment firm disclosed a similar stake in Pinterest Inc.
The company earned an adjusted profit of 93 cents for the three months ended June 30, compared with $1.15 per share a year earlier.
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Pinterest shares jump 20% after Elliott discloses it is the largest shareholder:Activist Investor Elliott Investment Management said on Monday it had become the largest shareholder in Pinterest Inc and that it saw potential for growth, sending shares of the pin-board company up 21 per cent.'Pinterest is a highly strategic business with significant potential for growth, and our convictio
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