- Autodesk (ADSK, Financial) strengthens its Board with two new independent directors, Jeff Epstein and Christie Simons.
- The cooperation agreement with Starboard Value LP leads to enhanced collaboration and shareholder value creation.
- Board to expand to 12 members, 11 of whom are independent, by June 18, 2025.
Autodesk, Inc. (ADSK) has announced the addition of Jeff Epstein and Christie Simons as independent directors to its Board following a cooperation agreement with Starboard Value LP. This strategic move is aimed at strengthening board oversight and collaboration towards enhanced shareholder value. Initially, Epstein and Simons will act as non-voting observers until their full appointment at the 2025 Annual Meeting on June 18, 2025. Post-appointment, the Board will comprise 12 directors, with 11 being independent.
Jeff Epstein brings an extensive background in financial leadership, having served as CFO at Oracle and holding board positions at several technology firms including Twilio and Okta. His experience provides a robust addition to Autodesk’s financial and strategic operations. Christie Simons, a former Senior Partner at Deloitte, offers 30 years of global expertise in auditing and consultancy for technology clients, currently serving on Micron Technology's Board.
As part of the cooperation agreement with Starboard Value LP, the investment firm will withdraw its director nominees and has agreed to an Information Sharing and Discussion Agreement to ensure ongoing collaboration for sustainable shareholder value creation. Starboard's involvement underscores Autodesk’s position as a key player in design software and emphasizes opportunities for profitability enhancement.
The agreement, along with the new appointments is expected to drive Autodesk's strategic initiatives in cloud, platform, and AI, ultimately aiming for substantial business performance improvements. The full agreement details will be available in an upcoming Form 8-K filing with the U.S. Securities and Exchange Commission.
