Autodesk Strengthens Board with New Appointments Amid Cooperation Agreement with Starboard Value

Jeff Epstein, who will serve as a non-voting observer until Autodesk's 2025 Annual Meeting on June 18, brings extensive experience in finance and corporate governance. Currently an Operating Partner and Head of Corporate Development at Bessemer Venture Partners, Epstein has held significant roles, including the Executive Vice President and Chief Financial Officer at Oracle. His track record includes steering financial operations for major firms, such as DoubleClick and Nielsen, and he currently serves on the boards of multiple technology companies, including Twilio, Okta, and Couchbase.

Epstein's credentials are bolstered by a Bachelor’s degree from Yale University and an MBA from Stanford University, illustrating his strong academic foundation alongside his professional achievements.

Joining Epstein is Christie Simons, who has over three decades of experience in serving global technology firms, particularly in audit and assurance. A former Senior Partner at Deloitte, she has held leadership roles that include overseeing the U.S. Technology, Media & Telecommunications (TMT) Audit & Assurance practice. Simons’ expertise will be invaluable, particularly as she currently serves on the Board of Directors at Micron Technology and has held various positions in professional organizations, including the California Society of CPAs.

Simons holds a Bachelor’s degree in International Business and Finance from the University of Boulder Colorado's Leeds School of Business and is recognized for her contributions to leadership in the technology sector.

The cooperation agreement with Starboard Value LP, an investment adviser known for its focused approach to unlocking value in publicly traded companies, marks a significant step in Autodesk's commitment to improving profitability and driving shareholder value. Jeff Smith, Managing Member and CEO of Starboard, expressed confidence in the appointments, stating, "Jeff and Christie will bring valuable perspectives to Autodesk's Board, helping oversee the Company's strategy to drive enhanced profitability."

The collaboration is set to foster a constructive dialogue between Autodesk’s management and Starboard, with an aim to ensure sustainable value creation for all shareholders. As part of this agreement, Starboard will withdraw its director nominees and adhere to customary standstill and voting provisions.

With the upcoming appointments, Autodesk's Board will expand to 12 directors, with 11 being independent. Chairman Stacy J. Smith emphasized the importance of these appointments, stating, "Their insights will be valuable as we continue to execute our industry cloud, platform and AI strategies to deliver strong business performance and create shareholder value."

The inclusion of Epstein and Simons is seen as part of Autodesk's broader strategy to navigate the challenges and opportunities in the design and technology sectors. As the company focuses on leveraging its Design and Make Platform to innovate and enhance customer outcomes, the newly appointed directors are expected to play a crucial role in guiding these efforts.

As Autodesk prepares for its 2025 Annual Meeting, the appointments of Jeff Epstein and Christie Simons signal a strategic move towards enhancing governance and driving growth. The cooperation with Starboard Value exemplifies Autodesk's dedication to fostering constructive relationships that benefit shareholders and position the company for continued success in the competitive technology landscape.