Boardroom Alpha Digest: Wed, Feb 8

by | Feb 8, 2023

Executive News

  • Zoom Video Communications (ZM) announced a 15% reduction in its workforce. In addition, CEO Eric Yuan will take a temporary 98% salary pay cut to $10,000. Yuan’s annual cash salary has averaged just ~$300k over the last few years.
  • Earlier this week Carlyle Group (CG) announced that former Goldman Sachs (GS) CFO Harvey Schwartz would be taking over as the company’s CEO

Activist News

  • Amidst a proxy fight with Trian, Walt Disney Co. (DIS) announced that it will cut ~7k jobs as part of a $5.5B cost savings plan.
  • The WSJ is reporting that Dan Loeb’s Third Point LLC has also taken a stake in Salesforce Inc. (CRM), joining Starboard, Elliott, and ValueAct


  • Mountain Crest Acquisition Corp. III (MCAE) shareholders approved ETAO International deal, no word on closing or redemptions
  • Summit Healthcare Acquisition Corp. (SMIH) set a definitive merger vote date for its YishengBio deal of 3/1
  • GX Acquisition Corp. II (GXII) and NioCorp set 3/10 its shareholder vote on the business combination
  • GSR II Meteora Acquisition Corp. (GSRM) and Bitcoin Depot set 3/30 as the date for their shareholder vote

SPAC Calendar

<a href="" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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