March 19 (Reuters) - Starboard Value is launching a
boardroom battle at Autodesk ( ADSK ) and is looking to nominate
directors to its board, the activist investor said on Wednesday,
intensifying a prolonged struggle to effect changes at the
design software maker.
Starboard, which held Autodesk ( ADSK ) shares worth more than $300
million as of December 31, intends to nominate a minority slate
of director candidates for election at the 2025 annual meeting,
it said in a letter to Autodesk ( ADSK ) shareholders.
The company's annual shareholder meeting is scheduled for
June 18, Autodesk ( ADSK ) said in a filing in January.
Autodesk's ( ADSK ) shares rose close to 2% in premarket trading,
after having fallen more than 12% so far this year, marking a
far deeper slump that the S&P 500's 4.5% drop. The company's
21.4% gain last year also underperformed the S&P 500's 23.3%
jump in that period.