Twilio Seeks Board Terms Following Activist Pressure (1)

Twilio Inc., a software company that has been challenged by activist investors, is asking shareholders to change its board director terms to one year from three beginning in 2025.

The company also announced Wednesday that Byron Deeter, a director since 2010, will not seek reelection at its upcoming annual investor meeting, and the board will be reduced to nine members from 10 upon the end of his term.

San Francisco-based Twilio, known for its business-to-consumer communications services, has been facing pressure from activist investors like Legion Partners Asset Management and Anson Funds to improve financial performance.

Anson Funds ...