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Starboard pushes Autodesk board to explore CEO change, cost cuts
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Starboard pushes Autodesk board to explore CEO change, cost cuts
Aug 6, 2024 5:05 AM

Aug 6 (Reuters) - Starboard Value has been engaging with

the board of Autodesk ( ADSK ), 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 ( ADSK ) 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 ( ADSK ) did not immediately respond to Reuters' request for

comment.

Last month

, Starboard said that Autodesk's ( ADSK ) management had

"intentionally" misled investors after it disclosed an

accounting issue in May.

It accused Autodesk ( ADSK ) of "subpar operational and financial

performance", while identifying significant cost reduction

opportunities.

CNBC reported the news earlier in the day.

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