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Activist Starboard launches proxy battle at Autodesk; to nominate directors
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Activist Starboard launches proxy battle at Autodesk; to nominate directors
Mar 19, 2025 5:21 AM

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.

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