{ "docId": "019dd923-622c-750b-8b9d-2310ae33859a", "docSlug": "088de79b26ea", "documentTitle": "LivePerson, Inc. (LPSN)", "authorId": "03_Starboard_Value", "authorName": "Peter Feld", "documentKindSlug": "shareholder-letter", "documentKindLabel": "Shareholder letter", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2022-05-09 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "pageCount": 6, "prevPage": 3, "nextPage": 5, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 4, "notes": "Uses Glassdoor reviews to contrast company claims with employee sentiment.", "elementsJson": [ "bar_chart_vertical", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9d-2310ae33859a/4", "deckHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a", "deckJsonHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9d-2310ae33859a#slide-4", "components": [ { "bbox": null, "kind": "callout", "text": "Informed by the online reviews from anonymous current and former employees on Glassdoor, we believe the Board’s lack of diversity has permeated throughout the Company, resulting in broader issues which exacerbate the Company’s cultural problems.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-e6ec-7186-b7bf-eb28c6927818", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.76, "x": 0.12, "y": 0.09 }, "kind": "chart", "text": "Comparison of board diversity metrics (Female and Underrepresented Communities) between Proxy Peer Average and LivePerson.", "attrs": null, "subkind": "bar-grouped", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "24544d7b-7c9c-42c0-a260-2d808d6dd15c", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "Board Diversity: 14%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-e6ec-7186-b7bf-f08cb1c8cc00", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.76, "x": 0.12, "y": 0.39 }, "kind": "paragraph", "text": "Informed by the online reviews from anonymous current and former employees on Glassdoor, we believe the Board's lack of diversity has permeated throughout the Company, resulting in broader issues which exacerbate the Company's cultural problems.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b35a1b3b-584b-4672-a018-8ff721bfa7c4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.76, "x": 0.12, "y": 0.79 }, "kind": "paragraph", "text": "Upon further investigation, we have found that these issues do not seem to be new. In addition to the employees that have recently reached out to us to voice their concerns about the current corporate culture at LivePerson, we have also found evidence that these are long-standing issues.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d2dab7fb-8f78-4f08-a9f0-eccc5df1358d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.76, "x": 0.12, "y": 0.66 }, "kind": "quote", "text": "Employees are treated poorly... Lastly there is a lot about equality being advertised at the company level, but the reality is very different. Women are not treated as well (promotion, hire ) which is a real discussion in between the employees globally.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "13576f23-e189-491e-9662-5a4ef2153d3b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.76, "x": 0.12, "y": 0.46 }, "kind": "quote", "text": "Fun place, poor leadership, male dominated... There's a mold- white men and young women. Lacks diversity in tight and leadership. Unsupportive over the pandemic in various ways... Advice to Management: Rob and the leadership team lack empathy and diversity", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "68a0ef2b-e3e3-4527-a9de-36b497d22bb4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.76, "x": 0.12, "y": 0.59 }, "kind": "quote", "text": "Poor Culture... Toxic culture that started with the senior leadership. Lack of diversity in leadership roles. Unrealistic expectations about work/life balance.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ec83c831-a821-45b0-a179-da3f09a761c2", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "Fun place, poor leadership, male dominated... There’s a mold- white men and young women. Lacks diversity in tight and leadership. Unsupportive over the pandemic in various ways... Advice to Management: Rob and the leadership team lack empathy and diversity - which is oh so needed especially during a pandemic. Get on board mentality or else. — Glassdoor (January 14, 2022)", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd952-e6ec-7186-b7bf-edbe19c6adda", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.76, "x": 0.12, "y": 0.34 }, "kind": "source-note", "text": "Source: Public company filings. (1) Per latest proxy statement as of 05/08/2022. (2) Represents non-gender diversity. Proxy peer average only includes peers which explicitly disclose specific non-gender diversity statistics...", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4191950c-7179-4c61-8cee-c23ffe60d0f1", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "expose_contradiction", "slug": null, "matchId": "8118f9ea-2383-467c-8847-4d4c338c447e", "evidence": "Contrasts quantitative board diversity data with qualitative employee testimonials.", "confidence": 0.9 } ], "arcBeats": [ { "to": 4, "from": 3, "beatId": "9e2904b9-8462-4944-9782-003b32f2cdb3", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Struggle", "beatSlug": "overcoming-monster-the-struggle", "evidence": "The presentation of executive officer turnover and lack of female representation on the board", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "loops": [ { "to": 5, "from": 2, "name": "The Reveal", "slug": "05-the-reveal", "bestFor": "Product launches, strategic pivots, unexpected findings", "matchId": "ce56f6a9-2c8b-4672-b97e-592835c18030", "evidence": "The presentation of several issues with the current management", "position": 0, "objective": "Reveal the issues with the current management", "structure": "Setup the Question -> Build Suspense -> The Big Reveal", "confidence": 0.7, "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }