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SAN FRANCISCO - Autodesk, Inc. (NASDAQ: NASDAQ:ADSK) announced today that board member Mary T. McDowell will not seek re-election at the 2025 Annual Meeting of Stockholders. McDowell, who has served on the board since March 2010, has been acknowledged for her substantial contributions to the company’s growth and strategic direction. The $60.77 billion market cap company has maintained impressive gross profit margins of 92% and achieved revenue growth of 11.5% over the last twelve months, according to InvestingPro data.
During her 15-year tenure, McDowell played a vital role in Autodesk’s expansion and profitability, which has been beneficial to shareholders. Stacy Smith, Autodesk Board Chair, expressed gratitude for McDowell’s leadership and the positive impact she has had on the company. InvestingPro analysis indicates the company maintains a strong financial health score of 2.74 (GOOD), though current trading multiples suggest the stock may be overvalued relative to its near-term earnings growth potential.
McDowell’s departure follows the December 2024 announcement that Lorrie Norrington would also not stand for re-election. The company has since added John Cahill, former Chairman and CEO of Kraft Foods (NASDAQ:KHC), and Ram Krishnan, Executive Vice President and Chief Operating Officer of Emerson (NYSE:EMR), to its board. The new members are expected to continue the legacy of strong leadership and shareholder value creation.
The changes in the board composition align with Autodesk’s commitment to maintaining a board with a diverse set of skills and experiences to effectively oversee the company’s strategic execution. The board’s reduction in size is part of Autodesk’s previously stated objectives.
Autodesk is known for its Design and Make Platform, which serves professionals across various industries, including architecture, engineering, construction, and media. The company’s technology is trusted worldwide for its capacity to unlock the power of data, automate processes, and enable customers to create impactful outcomes for their businesses and the environment.
This news is based on a press release statement from Autodesk, Inc.
In other recent news, Autodesk is reportedly planning job cuts as part of a strategy to enhance profitability, following pressure from investors, including Starboard Value LP. The company is expected to announce its quarterly earnings soon, although the number of potential layoffs has not been disclosed. In related developments, Citi analyst Tyler Radke adjusted Autodesk’s stock price target to $339, maintaining a Buy rating, citing a shift towards value-added services. Meanwhile, KeyBanc Capital Markets maintained an Overweight rating with a $330 price target, noting a return to normal purchasing levels and expectations for revenue growth in fiscal year 2025. Morgan Stanley (NYSE:MS) also reiterated its Overweight rating with a $375 target, highlighting stable revenue and progress on margin expansion despite mixed macroeconomic conditions. Additionally, Baird raised its price target for Autodesk to $345, maintaining an Outperform rating, based on positive feedback from Autodesk partners. These recent developments reflect varying analyst perspectives on Autodesk’s financial outlook and strategic initiatives.
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