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Activist investor Starboard Value is preparing a proxy fight at Autodesk Inc. (NASDAQ: ADSK), holding a stake worth over $500 million, according to the Wall Street Journal. The hedge fund plans to nominate new directors at Autodesk’s upcoming annual meeting, citing concerns over underperformance and governance issues.
Starboard argues that Autodesk has lagged behind the broader software market and is pushing for margin improvements and a board shakeup, including a reassessment of CEO Andrew Anagnost. The hedge fund previously attempted to block an Autodesk board meeting and accused the company of misleading investors regarding an accounting probe—though the investigation resulted in no financial restatements.
Autodesk shares have dropped nearly 12% in 2025, following a global restructuring plan that includes cutting 9% of its workforce. The stock also struggled through 2024, as the company delayed its annual financial reports and faced scrutiny over its accounting practices.
With Starboard’s history of activist campaigns, its latest move signals increasing pressure on Autodesk to improve financial performance and restore investor confidence.
