Autodesk rises after activist investor Starboard pushes for board changes

Design software firm Autodesk's ADSK.O shares rise 3.6% to $269.37 in morning trading

Activist investor Starboard says board change is necessary at ADSK and it intends to nominate a minority slate of experienced director candidates for election at the 2025 annual meeting

"We remain open to engaging with Autodesk to reach a constructive solution," Starboard says in a letter

ADSK did not immediately respond to a Reuters request for comment

In February, ADSK said it would reduce its workforce by about 9%, representing roughly 1,350 employees

Starboard had built a stake in ADSK valued at more than $500 mln and said in June last year that it planned to push for changes to the board due to concerns about co's performance and its handling of an accounting probe

*Rosenblatt Securities says ADSK's commercial billings activity has been weak for over two years due to higher capital costs, weak markets for office space, and macroeconomic concerns

Up to last close, ADSK up ~2% over the past 12 months