03:13 PM EDT, 03/19/2025 (MT Newswires) -- Autodesk ( ADSK ) said Wednesday it disputed the claim that it was underperforming, in response to an announcement from shareholder Starboard Value that it intended to nominate directors at the company's annual meeting.

In an open letter on the same day, Starboard had accused the company of underperformance and inadequate board oversight. Autodesk ( ADSK ) disagreed, saying that its business performance has "outperformed" its peers.

Autodesk ( ADSK ) said it has a "proven track record of board refreshment" and maintains a "thoughtful balance of directors," highlighting its appointment of five independent directors in the past six years and noting that two directors will not be standing for reelection at the annual meeting on June 18.

If Starboard proceeds with the nomination of its directors, Autodesk ( ADSK ) said its corporate governance committee would review the candidates as part of its regular evaluation process.

Starboard is a hedge fund with an ownership stake in the company of more than $500 million.

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