Starboard Value, holding a $500 million stake in Autodesk (ADSK), is pushing for changes at the design software company, according to a report by the Wall Street Journal, citing sources familiar with the situation.
The report indicates that Starboard has recently engaged with Autodesk's executives to discuss concerns about the company's operations, corporate governance, and the handling of a recent accounting investigation that significantly affected its stock price.
The activist investor believes that Autodesk needs to boost its profit margins and make changes to its board of directors, the report added.
Earlier this month, Autodesk announced that no restatement or adjustment of financial statements would be required following an audit committee investigation into the company's free cash flow and non-GAAP operating margin practices.
