Reuters logo
BRIEF-Autodesk says CEO to step down, announces board changes
February 7, 2017 / 2:16 PM / 8 months ago

BRIEF-Autodesk says CEO to step down, announces board changes

Feb 7 (Reuters) - Autodesk Inc

* Carl Bass has decided to step down as president and chief executive officer, effective February 8

* Announces CEO transition

* Reaffirms Q4 and FY17 guidance

* Board has instituted a CEO search to consider candidates

* Sachem head designees Scott Ferguson and Jeff Clarke to resign from board

* Bass will remain on staff as a special advisor to company in support of transition to a new CEO

* Crawford Beveridge will remain non-executive chairman of board

* Says new agreement between Autodesk and Sachem Head Capital Management LP

* Says agreement calls for two of Sachem head’s 2016 director nominees, Scott Ferguson and Jeff Clarke, to resign from board of directors

* Sachem Head Capital has agreed to continue until June 2018 their earlier standstill and voting agreement provisions

* Board will begin a search for a new independent director candidate, who will join when Ferguson and Clarke step down

* FY2017 earnings per share view $-0.57, revenue view $2.02 billion -- Thomson Reuters I/B/E/S

* Q4 earnings per share view $-0.34, revenue view $472.8 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below