Starboard plans to launch proxy fight at Autodesk- WSJ

Investing.com-- Activist investor Starboard Value is gearing up to wage a proxy war at Autodesk Inc (NASDAQ:ADSK) with an over $500 million stake in the software developer, the Wall Street Journal reported on Tuesday. 

Starboard plans to nominate a minority slate of director candidates for Autodesk’s upcoming annual meeting, the WSJ report said, citing people familiar with the matter.

The activist investor believes that Autodesk has been underperforming the broader software market in recent years, and is also pushing for margin improvements and a board overhaul- particularly a reassessment of CEO Andrew Anagnost.

Starboard had last year lost a legal battle to block Autodesk from holding a board meeting. The hedge fund had also accused Autodesk of misleading investors over an accounting probe. 

Autodesk’s shares are trading down nearly 12% so far in 2025, with investors having reacted negatively to a global restructuring plan which will see the firm eliminate about 9% of its workforce. 

This came after the stock slumped through 2024, as Autodesk delayed its annual financial reports and revealed an investigation into its accounting practices, although the latter did not result in any changes to its financials. 

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