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SAN FRANCISCO - Autodesk, Inc. (NASDAQ:ADSK), a technology giant with a market capitalization of $57.13 billion, has disclosed that board member Elizabeth "Betsy" Rafael will not seek re-election at the upcoming 2025 Annual Meeting of Stockholders. Rafael, who has been part of the Autodesk Board since September 2013, also served as the Audit Committee chair and took on the role of Interim CFO during a transitional phase for the company. InvestingPro data shows the company maintains impressive gross profit margins of 92%, reflecting strong operational efficiency.
Andrew Anagnost, Autodesk’s president and CEO, acknowledged Rafael’s significant contributions to the company’s growth and her influence on its strategic direction. During her tenure, Rafael provided leadership that helped position Autodesk for future success, especially during her interim term as CFO from May 31, 2024, to December 16, 2024. The company’s strong positioning is reflected in its 11.5% revenue growth over the last twelve months, with 18 analysts recently revising their earnings expectations upward according to InvestingPro analysis.
Rafael’s departure is in line with the conclusion of her advisory tenure at Autodesk, set to end on April 30, 2025. Reflecting on her time with the company, Rafael expressed her confidence in Autodesk’s potential for continued strong performance and wished the team well for the future.
Autodesk, recognized for its software used by professionals across various industries to design and create, emphasizes its commitment to innovation and the empowerment of its customers. The company’s Design and Make Platform is designed to unlock data’s potential, accelerate insights, and automate processes.
The announcement of Rafael’s departure is based on a press release statement from Autodesk, Inc., which reserves the right to make changes to its product and service offerings and pricing at any time. The company’s portfolio includes widely used software for architecture, engineering, construction, product design, manufacturing, and media and entertainment.
Ms. Rafael’s decision marks the end of a notable chapter in Autodesk’s governance, as the company continues to navigate the dynamic landscape of design and make technology. With its next earnings report scheduled for May 22, 2025, and an overall financial health rating of GOOD from InvestingPro, Autodesk appears well-positioned for its next phase of growth. For deeper insights into Autodesk’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Autodesk reported a 12% increase in FY 2025 revenue, reaching $6.1 billion, alongside a significant rise in its non-GAAP operating margin to 39%. The company also saw a 22% growth in free cash flow, amounting to $1.6 billion, with expectations to reach up to $2.175 billion in FY 2026. Autodesk has announced a restructuring program aimed at enhancing profitability, projecting 8-9% constant currency organic revenue growth for FY 2026. Meanwhile, Starboard Value LP, a major shareholder, is pushing for changes by nominating three new candidates for Autodesk’s Board of Directors at the 2025 annual meeting. This move is part of Starboard’s strategy to improve accountability and performance, citing Autodesk’s financial and operational underperformance. In response, Autodesk has highlighted its recent financial achievements and ongoing efforts to optimize its market strategy. Berenberg has maintained a Hold rating on Autodesk shares, citing the company’s restructuring initiatives and revised financial strategy as promising for future profitability. Autodesk’s Board has seen recent changes with new independent directors, and the company remains open to engaging with Starboard’s nominees.
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