Press Release

Twilio Welcomes Andy Stafman to its Board of Directors

Thu 4 Apr 2024

Image Credit: Reuters

Cloud customer engagement platform company, Twilio, declared the appointment of a partner at Sachem Head Capital Management LP, Andy Stafman, to its Board of Directors.

In line with this appointment, Twilio has entered into a cooperation agreement with Sachem Head, which includes standard standstill, voting, and confidentiality commitments, among other terms.

Jeff Epstein, Chair of the Board for Twilio, said over the last year and a half, the company has implemented critical changes to hasten its path to profitability.

“The inclusion of Andy’s insight as a shareholder in the boardroom will be instrumental as we maintain our robust oversight of the company’s strategy to elevate value for all stakeholders,” said Epstein.

CEO of Twilio, Khozema Shipchandler, echoed this sentiment, emphasising the company’s enhanced operational discipline.

“Our operation of Twilio now embodies an unprecedented level of focus, rigour, and discipline, with a steadfast commitment to achieving sustainable, profitable growth. Looking forward, we are poised to leverage artificial intelligence (AI) by integrating our data capabilities with our extensive Communications solutions,” said Shipchandler.

Twilio has announced plans to conduct an investor day within the next twelve months to delve into the company’s strategy more comprehensively and outline medium-term financial objectives. Details concerning the investor day will be announced once the date is finalised.

“Sachem Head’s investment in Twilio was driven by its prominent position in the customer engagement sector and the vast potential presented by AI application. The company has already undertaken significant steps towards improving Twilio’s profitability and growth path,” said Stafman.

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