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Activist investor Starboard Value has been engaging with the board of Autodesk , continuing its push to improve the company's operations and financial performance, according to a presentation viewed by CNBC. Starboard wants Autodesk's board to reassess whether CEO Andrew Anagnost, who has helmed the software maker for seven years, is the right person to lead the company forward, according to the presentation. The activist investor has shared the presentation's findings with Autodesk's board in recent weeks, after disclosing a $500 million stake in the company earlier this year. Starboard is also pushing for cost cuts and a realigned executive compensation plan, all of which it believes can drive margin improvement of up to 1,000 basis points. But Starboard has shown no signs of relenting, continuing to press the company and shareholders for change.
Persons: Andrew Anagnost, Anagnost, Dow Jones, Deborah Clifford, Jeff Smith Organizations: Autodesk, CNBC, GoDaddy Locations: Delaware, Salesforce
Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. With 90%+ gross margins and 35% operating margins, Autodesk is a leader in AEC software. Further, its operating margins are not much worse than those of its peers at first blush. However, Starboard correctly does not judge the company's operating margins on the mean of its peer set, but by the potential embodied in its gross margins and market position. He no longer serves on the board of Autodesk, but he could certainly be an informal advisor to Starboard – or a cautionary tale for Autodesk.
Persons: Max, Russell, Deborah Clifford, Clifford, bode, Sachem, Andrew Anagnost, designees, Rick Hill, Hill, designee, Ken Squire Organizations: Autodesk, Engineering, Manufacturing, Media, Entertainment, Manufacturing Solutions, Wonder, Delaware Chancery, , U.S . Securities, Exchange Commission, Delaware Court, Marvell Technology, Symantec, 13D Locations: Delaware, Autodesk's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutodesk CEO: People are still struggling with capacity to get the production they needAndrew Anagnost, Autodesk CEO, joins 'Money Movers' to discuss the company's purview of the construction business, how generative AI is helping the business, and much more.
Persons: Andrew Anagnost Organizations: Autodesk
Autodesk CEO on Q3 earnings beat
  + stars: | 2023-11-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutodesk CEO on Q3 earnings beatAutodesk CEO Andrew Anagnost joins 'Squawk on the Street' to discuss the company's quarterly earnings results, how Anagnost frames the generative AI strategy, and more
Persons: Andrew Anagnost Organizations: Autodesk
Autodesk CEO: Here's how we were able to beat on all key metrics
  + stars: | 2023-08-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutodesk CEO: Here's how we were able to beat on all key metricsAndrew Anagnost, Autodesk CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, Autodesk's media and entertainment business, and more.
Persons: Andrew Anagnost Organizations: Autodesk
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