Starboard thinks the company should improve its margins and make changes to its board, the report said, adding that the activist investor met with Autodesk executives in recent weeks to discuss concerns related to the company's operations, corporate governance and the handling of a recent accounting probe that tanked the stock. Starboard criticized Autodesk in private conversations with the company for not disclosing the investigation and other material updates until after the company's window for shareholders to nominate director candidates closed in late March, according to the report. It is considering taking legal action to ask for Autodesk's director nomination window to be reopened and for the design-software maker's annual shareholder meeting, currently set for July 16, to be delayed, the report added.
Investing.com - Activist investor Starboard Value has acquired a stake of approximately $500 million in design-software manufacturer Autodesk Inc (NASDAQ:ADSK) and is now advocating for changes within the company, according to the Wall Street Journal.
Autodesk's (ADSK) first-quarter fiscal 2025 results reflect gains from new business growth, resilient subscription renewal rates and strong competitive performance.