07:59 AM EDT, 09/13/2024 (MT Newswires) -- Upwork ( UPWK ) is being challenged by activist investor Engine Capital, which is pushing for an overhaul of the company's board, CNBC reported Friday, citing a letter to the company.

Engine has a 4% stake in Upwork ( UPWK ) and is demanding a shakeup of the company's board, citing a "lack of strategic clarity and focus," CNBC reported

"Brown is now effectively on her third management team in four years," Engine's founder Arnaud Ajdle wrote in the letter.

Engine suggested Upwork ( UPWK ) remove board members including Chairman Thomas Layton and Gary Steele.

Upwork ( UPWK ) and Engine did not immediately reply to MT Newswires' request for comment.

Shares of Upwork ( UPWK ) were up more than 1.5% in Friday's premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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