Starboard pushes Autodesk board to explore CEO change, cost cuts
2024.08.06 08:05
(Reuters) -Starboard Value has been engaging with the board of Autodesk (NASDAQ:), continuing its push to improve the design software maker’s operations and financial performance, the activist investor said in a presentation on Tuesday.
Starboard wants Autodesk’s board to assess whether CEO Andrew Anagnost, who has helmed the software maker for seven years, is the right choice to lead the company.
The activist investor, which disclosed a $500 million stake in the company earlier this year, is also pushing for cost cuts and a realigned executive compensation plan.
Autodesk did not immediately respond to Reuters’ request for comment.
Last month, Starboard said that Autodesk’s management had “intentionally” misled investors after it disclosed an accounting issue in May.
It accused Autodesk of “subpar operational and financial performance”, while identifying significant cost reduction opportunities.
CNBC reported the news earlier in the day.
