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Twilio board shakeup prompts renewed activist scrutiny
Twilio is under fresh scrutiny from activist investor Anson Funds, which has been pushing for change for months.
"While this agreement represented incremental positive change, in our view it was not enough to prevent the continued entrenchment of the Board and ensure an end to Twilio's persistent underperformance," Gupta said in a press release on Thursday. Their vocal demands have been enough to spur an expanded share buyback program, to push out Lawson and to spark an operational review of a business the firms wanted Twilio to sell. Anson Funds said it will be paying close attention to the board's actions going forward, adding that the company announced its changes only after months of discussions with the investor.
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