On March 30, 2024, Twilio Inc., a Delaware-based company listed on the New York Stock Exchange under the symbol TWLO, entered into a cooperation agreement with Sachem Head Capital Management LP and its affiliates. As part of the agreement, Twilio appointed Andy J. Stafman to its board of directors as a Class II director with immediate effect. His initial term will expire at the company's 2024 annual meeting of stockholders, where he will also be nominated for election. The board expanded from nine to ten members to accommodate this appointment. The agreement includes customary director replacement rights and will remain effective until 30 days after Stafman or any successor ceases to serve on the board, or one day following the conclusion of...Show More

On March 30, 2024, Twilio Inc., a Delaware-based company listed on the New York Stock Exchange under the symbol TWLO, entered into a cooperation agreement with Sachem Head Capital Management LP and its affiliates. As part of the agreement, Twilio appointed Andy J. Stafman to its board of directors as a Class II director with immediate effect. His initial term will expire at the company's 2024 annual meeting of stockholders, where he will also be nominated for election. The board expanded from nine to ten members to accommodate this appointment. The agreement includes customary director replacement rights and will remain effective until 30 days after Stafman or any successor ceases to serve on the board, or one day following the conclusion of Twilio's 2025 annual meeting of stockholders, whichever is later. Sachem Head has agreed to customary standstill, voting, and confidentiality commitments. On April 1, 2024, Twilio issued a press release announcing the cooperation agreement and Stafman's board appointment. Stafman, a partner at Sachem Head, brings experience from his previous role at Silver Lake Partners and his education from The Wharton School at the University of Pennsylvania. Twilio's CEO, Khozema Shipchandler, expressed confidence in the company's strategic direction and focus on AI convergence with its communications solutions.