(Bloomberg) -- Salesforce Inc. is appointing three new independent directors to its board as it seeks to stave off pressure from activist investors.

Mason Morfit, chief executive officer and chief investment officer of activist investor ValueAct Capital, will join the board, the company said, confirming an earlier report by Bloomberg News. Morfit said he has enjoyed working with Chief Executive Officer Marc Benioff, and looks forward to “helping them deliver profitable growth and shareholder returns.”

The enterprise software company is also bringing in Arnold Donald, the former CEO of Carnival Corp., and Mastercard Inc. Chief Financial Officer Sachin Mehra.

The appointments demonstrate “Salesforce’s commitment to ongoing refreshment in action,” Lead Independent Board Director Robin Washington said in the statement. “Over the past year, we have benefited from the valuable input of our investors and look forward to continuing that dialogue as we drive value for Salesforce shareholders.”

Salesforce shares were little changed at $165.65 as the market opened in New York. They are on track for their best week since November after Elliott’s stake became public Sunday night. The stock has recovered from a sharp decline in the weeks after co-Chief Executive Officer Bret Taylor announced he would leave the company.

Benioff said the company would benefit from the new directors’ expertise as it drives “durable top- and bottom-line growth.”

As a result of the appointments, board members Alan Hassenfeld, ex-CEO of Hasbro Inc., and Sanford Robertson will not stand for reelection at Salesforce’s 2023 annual general meeting. Each director had been on the board for 19 years. Bloomberg News reported earlier this week that Salesforce was considering the changes, and had been working on refreshing its board for several months. 

Pressure has been mounting on San Francisco-based Salesforce to boost profits and shareholder returns after a half-decade of fast hiring and large acquisitions, which included the purchase of business communications app Slack in 2021 for $27.7 billion. 

Activists Elliott Investment Management, Starboard Value, ValueAct, and Jeff Ubben’s Inclusive Capital have taken stakes in the company. It’s unclear what the addition of ValueAct’s Morfit means for the other activists in the stock. Salesforce has been engaging with Elliott since it was contacted on Sunday, people familiar with the matter said, asking not to be identified discussing confidential information.

Elliott, which has a multibillion stake, is preparing to nominate a slate of directors in the open nomination window starting Feb. 12, according to a person familiar with the matter. It has has held conversations with technology executives and those from other industries.

In addition to board changes, the company is expected to come under pressure to cut more jobs or spin off big acquisitions in search of greater profit, Wall Street analysts said. Salesforce this month said it would cut 10% of its workforce, about 8,000 jobs.

(Updates shares and adds company confirmation)

©2023 Bloomberg L.P.