Carbon Steel Tube Mill,Tube Mill Machine,Welded Tube Mill,Tube Mill Yangzhou Donglun Industrial Equipment Co., Ltd , https://www.dltubemill.com
Public Company Announcement:
NASDAQ: ADSK
SAN RAFAEL, Calif.—(BUSINESS WIRE)—Today, Autodesk, Inc. (NASDAQ: ADSK) announced a settlement agreement with Sachem Head Capital Management LP ("Sachem Head") and Eminence Capital, LP ("Eminence"). As part of the agreement, Autodesk has added three new directors to its board: Scott Ferguson, Rick Hill, and Jeff Clarke.
Crawford W. Beveridge, the non-executive chairman of Autodesk's board, expressed his enthusiasm about the new additions. "We're thrilled to have Scott, Rick, and Jeff join our board," Beveridge stated. "Their combined expertise in technology, finance, and corporate governance will greatly benefit both the company and its shareholders. Our board and management team remain committed to executing our strategic plan and transitioning our business model, which we believe is the best path forward to enhance shareholder value."
Scott Ferguson, managing partner of Sachem Head, will serve as a director and be part of the Compensation & Human Resources Committee. Rick Hill, chairman of Tessera Technologies, Inc., will also be a director, focusing on the Corporate Governance & Nominating Committee. Jeff Clarke, CEO of Kodak, will join as a director and be part of the Audit Committee.
Ferguson expressed his excitement about joining the Autodesk board. "I'm very enthusiastic about contributing to Autodesk's future. The company's recent actions clearly demonstrate a shared vision with shareholders to maximize long-term value," he said.
Ricky Sandler, CEO of Eminence, echoed Ferguson's sentiment. "We're happy to have reached an agreement with the board and believe these new directors will help create substantial value for all stakeholders. As long-term investors, we fully support Autodesk's shift to cloud-based solutions."
The board will initially consist of 13 members following the appointments but will reduce to 11 members after the 2016 annual meeting when two current directors won't seek reelection. Sachem Head and Eminence Capital have agreed to certain standstill and voting commitments under the settlement agreements.
For the complete settlement agreements, refer to the Form 8-K filed with the SEC.
About Scott Ferguson:
Scott Ferguson is the Managing Partner and Portfolio Manager of Sachem Head. Before founding Sachem Head, he was a Partner at Pershing Square Capital Management for nine years. Earlier in his career, he earned an MBA from Harvard Business School and worked at American Industrial Partners and McKinsey & Company. Scott graduated from Stanford University with an A.B. in Public Policy in 1996. He serves on the Leadership Council of the Robin Hood Foundation and the Boards of the Henry Street Settlement and Episcopal Charities.
About Rick Hill:
Richard S. Hill is the Chairman of Tessera Technologies, Inc., and a director at Arrow Electronics, Inc., and Cabot Microelectronics Corporation. He served as Tessera’s interim CEO briefly in 2013. Prior to that, he was CEO of Novellus Systems Inc., until its acquisition by Lam Research Corporation in 2012. During his tenure at Novellus, Rick increased annual revenues from around $100 million to over $1 billion. Before joining Novellus in 1993, he held various roles at Tektronix Corporation and GE, Motorola, and Hughes Aircraft Company. He holds degrees from the University of Illinois and Syracuse University.
About Jeff Clarke:
Jeff Clarke is the CEO and a board member of Kodak. Before joining Kodak, he was a Managing Partner at Augusta Columbia Capital (ACC). He chaired Travelport, Inc., from 2012 to 2014 and served as its CEO from 2006 to 2011. Previously, he was COO of CA, Inc., EVP of Global Operations at HP, and CFO of Compaq Computer. Jeff has been on the Red Hat board since 2008 and served on Compuware’s board from 2013 to 2014. He chaired Orbitz Worldwide from 2007 to 2014. Jeff earned an MBA from Northeastern University and a B.A. in Economics from SUNY Geneseo.
About Autodesk:
Autodesk empowers people to imagine, design, and create a better world. From design professionals and architects to students and digital artists, Autodesk tools help users unlock creativity and solve critical challenges. Learn more at autodesk.com or follow @autodesk.
Safe Harbor Statement:
This press release includes forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements carry risks and uncertainties that could cause actual outcomes to vary significantly, especially regarding the impacts of appointing Ferguson, Hill, and Clarke to the board. Key risks include execution risks related to business model transitions, competition, market conditions, integration challenges, and foreign currency fluctuations. For more details, refer to the company’s SEC filings.
Contact:
Autodesk, Inc.
Noah Cole, 415-580-3535
noah@autodesk.com
June 07, 2025