Autodesk Bolsters Board with Two Independent Directors

Autodesk has strengthened its Board with the appointment of two independent directors, Jeff Epstein and Christie Simons, as part of a cooperation agreement with Starboard Value LP. The Board will expand to 12 members, 11 of whom will be independent, by June 18, 2025. Epstein brings financial leadership experience, while Simons has 30 years of auditing and consultancy expertise. The agreement aims to drive Autodesk's strategic initiatives in cloud, platform, and AI to enhance shareholder value.

Autodesk, Inc. (NASDAQ: ADSK), a leading design software company with a market capitalization of $56.33 billion, has announced the appointment of Jeff Epstein and Christie Simons to its Board of Directors as part of a cooperation agreement with Starboard Value LP [1]. This move aims to enhance the Board’s expertise in technology, finance, and audit, crucial as Autodesk continues to implement its strategies in cloud, platform, and artificial intelligence.

Jeff Epstein, an Operating Partner at Bessemer Venture Partners, brings extensive financial leadership experience, having previously served as EVP and CFO at Oracle and held board roles at Twilio and Okta [1]. Christie Simons, with over 30 years of experience, has served as a Senior Partner at Deloitte and sits on the Board of Directors at Micron Technology [1]. Both appointees will initially serve as non-voting observers and will become voting members after the Annual Meeting on June 18, 2025 [1].

The addition of Epstein and Simons is expected to complement the Board’s skillset and contribute valuable insights to Autodesk’s strategic initiatives. Chairman Stacy J. Smith expressed confidence that their expertise will enhance business performance and shareholder value creation [1]. The cooperation agreement includes customary standstill and voting provisions and will be detailed in a Form 8-K filed with the U.S. Securities and Exchange Commission [1].

The settlement ends a proxy fight with Starboard Value LP, which had sought to persuade investors to elect three people to the board [2]. Starboard has criticized Autodesk for underperformance but acknowledged the constructive dialogue with Autodesk’s management and Board [2]. The agreement aims to drive sustainable value creation for all shareholders [2].

Following the 2025 Annual Meeting, Autodesk’s Board will expand to 12 directors, with 11 serving independently [3]. BMO Capital analyst Daniel Jester called the development a “reasonable outcome,” highlighting that it reduces distractions for management and allows them to focus on the business [3]. Epstein and Simons’ appointments are seen as a significant step towards enhancing Autodesk’s profitability and margin drive [3].

References:
[1] https://www.investing.com/news/company-news/autodesk-expands-board-with-two-new-directors-in-starboard-agreement-93CH-4001664
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3R2190:0-autodesk-settles-fight-with-starboard-adds-2-newcomers-to-board/
[3] https://au.finance.yahoo.com/news/autodesk-shares-gain-following-deal-145408733.html