Twilio (NYSE: TWLO) has recently announced the appointment of Andy Stafman, a partner at Sachem Head Capital Management LP, to the company's board of directors. The move comes as Twilio aims to capitalize on opportunities and accelerate its path to profitability. Khozema Shipchandler, CEO of Twilio, emphasized the company's commitment to driving durable, profitable growth and its confidence in unlocking the power of AI by converging data capabilities with communications solutions.
Twilio also plans to hold an investor day within the next twelve months to discuss its strategy in greater detail and share medium-term financial targets, indicating a forward-looking approach to transparency and communication with stakeholders.
With the addition of Mr. Stafman, Twilio's board will increase to 10 directors, nine of whom are independent. The company has entered into a cooperation agreement with Sachem Head, with provisions including standstill, voting, and confidentiality commitments.
This move reflects Twilio's efforts to strengthen profitability and growth trajectory, as highlighted by Mr. Stafman's endorsement of Twilio's leadership position in the customer engagement market and the significant upside potential from the application of AI.
Twilio's customer engagement platform (CEP) is trusted by leading companies globally, enabling personalized relationships with customers through communications and data. The platform is used across 180 countries and territories by millions of developers and hundreds of thousands of businesses to create exceptional customer experiences.
Today the company's shares have moved 2.7% to a price of $62.81. Check out the company's full 8-K submission here.
