SAN RAFAEL (dpa-AFX) - Autodesk Inc. (ADSK) issued a statement in response to Starboard Value LP's intention to nominate directors for election to the Autodesk Board of Directors. Autodesk emphasized its proactive efforts to engage with Starboard by meeting with its representatives and inviting them to share their ideas with the full Board. Additionally, when new directors were added, Autodesk reached out to include Starboard in the process, though Starboard chose not to participate.
If Starboard proceeds with their nomination, the Board's Corporate Governance Committee will review Starboard's candidates as part of our regular director evaluation process. Shareholders are advised that no immediate action is required on their part, Autodesk said.
Autodesk highlighted its decisive measures to accelerate growth, enhance operating margins, generate substantial free cash flow, and continue innovating for its customers. In fiscal year 2025, the company completed the launch of a new go-to-market strategy and has now entered the optimization phase of the plan.
Further, Autodesk underscored its commitment to evolving its Board, maintaining a balance between directors with deep institutional knowledge and those offering fresh perspectives. The Board is predominantly composed of independent directors possessing substantial expertise in technology, industry, operational execution, and strategic transformation.
The company also announced that two directors will not seek reelection at the 2025 Annual Meeting, reinforcing its dedication to aligning Board evolution with its overarching strategy.
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