March 26 (Reuters) - Starboard Value is nominating three
directors to design and engineering software maker Autodesk's ( ADSK )
board, the activist investor said on Wednesday,
rekindling its proxy battle with the company over margin
concerns.
The nominees include Geoff Ribar, former CFO of Cadence
Design Systems ( CDNS ), and Christie Simons, a senior Partner
at Deloitte & Touche, and Starboard chief executive Jeff Smith.
Starboard, which holds a $500 million stake in Autodesk ( ADSK ),
last week announced its intention to nominate a minority slate
of director candidates for election at the 2025 annual meeting,
nearly a year after it lost a bid to appoint nominees due to
missed deadlines.
It has argued that Autodesk ( ADSK ) spends significantly more than
software peers and has underperformed the market. It also urged
Autodesk's ( ADSK ) board last year to explore a CEO change and cost
cuts.