#USA #San Francisco #Autodesk #Starboard Value #NASDAQ ADSK

Autodesk Responds to Starboard Value's Director Nominations

Autodesk, Inc. (NASDAQ: ADSK), a leading design software company, has recently released a statement regarding Starboard Value LP's intention to nominate candidates for its Board of Directors. This response reflects Autodesk's ongoing commitment to engage constructively with its shareholders and to maintain a focus on the best interests of the company and its investors.

A Focus on Shareholder Value

In their public statement, Autodesk's board and management highlighted their diligent review of Starboard’s recent communications. The company emphasized its unwavering dedication to generating value for its shareholders. Autodesk pointed to its impressive financial results and strategic initiatives that have fostered substantial long-term value for its investors.

According to Autodesk, the steps taken toward business growth and financial stability are evident. Over the recent fiscal years, Autodesk has implemented a new go-to-market strategy, achieving remarkable non-GAAP operating margins that have significantly exceeded expectations. The company boasts an increase of over 2,400 basis points since FY 2019 and 300 basis points compared to FY 2023, confirming that it has surpassed its target ahead of schedule.

Strategic and Operational Performance

The company's recent restructuring efforts are also on the agenda, as Autodesk aims for heightened operational efficiency while optimizing its marketing strategies. The management team is focused on ensuring that these adjustments lead to sustained growth and profitability, thereby reinforcing their commitment to delivering value to both customers and shareholders.

Board Composition and Governance

Autodesk’s statement addressed the issue of corporate governance as well, touching on its history of board refreshment. The company has added five new independent directors in the past six years. The recent appointments of high-profile executives like John Cahill, former Chairman and CEO of Kraft Foods, and Ram Krishnan, Executive Vice President and CTO of Emerson, exemplify this initiative. Autodesk continues to prioritize a board with diverse perspectives and strong industry expertise. Furthermore, two directors have opted not to seek reelection next year, reflecting Autodesk’s commitment to a constantly evolving governance structure that aligns with contemporary business practices.

Engagement with Starboard

Autodesk's engagement with Starboard Value has been characterized as constructive, as the firm consistently sought dialogue and collaboration over the past year. Autodesk proactively invited Starboard to present its ideas to the full Board, aiming to incorporate their feedback into future decisions. The company expressed hope that cooperation will continue, even if Starboard proceeds with their director nominations.

As the situation develops, Autodesk's Corporate Governance Committee will assess the nominations from Starboard as part of its usual director evaluation process. It is essential to note that shareholders are not required to take any immediate action regarding these nominations.

Conclusion

With its leadership entrenched in a commitment to operational excellence and shareholder engagement, Autodesk remains poised to advance its strategic goals while responding proactively to external challenges such as potential board nominations. As Autodesk continues to drive innovation across its design and manufacturing platforms, it aims to sustain its trajectory of robust results and shareholder confidence in the years to come.

For further updates and insights, you may refer to Autodesk’s official website or follow them on their social media channels. The company invites ongoing discussions that will facilitate collaboration and mutual success, staying true to its ethos: #MakeAnything.