Twilio appoints Andy Stafman to board of directors

Earlier, Twilio announced that it has appointed Andy Stafman, a partner at Sachem Head Capital Management LP to the company’s board of directors, effective immediately. “Over the last year and a half, we have made important changes to accelerate our path to profitability and position Twilio to capitalize on the opportunities we see ahead,” said Jeff Epstein, Chair of the Board for Twilio. “We look forward to benefiting from the addition of Andy’s perspectives as an additional shareholder in the boardroom as we continue our strong oversight of the company’s strategy to enhance value for all our stakeholders.” Twilio plans to hold an investor day within the next twelve months to discuss the company’s strategy in greater detail and to share medium-term financial targets. Twilio will provide more details on the investor day once a date for the event has been set. Twilio has entered into a cooperation agreement with Sachem Head. Pursuant to the agreement, Sachem Head has agreed to customary standstill, voting and confidentiality commitments, among other provisions. With the appointment of Stafman, Twilio’s Board will increase to 10 directors, nine of whom are independent.