Activist investor Engine Capital has built a roughly 4% stake in Upwork and is pushing for a shakeup to the board of the freelance marketplace operator, reported CNBC’s Rohan Goswami. In a letter to Upwork’s board on Friday, which was obtained by CNBC, Engine said the company needs to fix “foundational issues” that are plaguing the platform and while the activist stopped short of calling for CEO Hayden Brown’s ouster, it questioned whether Upwork’s board has been adequately overseeing management, the report said.
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