Autodesk(ADSK) Prnewswire·2024-12-18 21:01Core Points - Autodesk has appointed John Cahill and Ram Krishnan as new independent directors to its Board of Directors, effective immediately [1][2] - The appointments are part of a comprehensive search process aimed at enhancing the Board's expertise and oversight capabilities [1][2] - Lorrie Norrington will not stand for re-election at Autodesk's 2025 Annual General Meeting, marking a transition in Board membership [1][3] Group 1: New Appointments - John Cahill brings extensive leadership experience, having served as Chairman and CEO of Kraft Foods, where he oversaw the merger with Heinz, creating one of the largest food and beverage companies globally [2][4] - Ram Krishnan, currently COO of Emerson, adds significant industry and technological expertise, particularly in complex lifecycle automation and strategic acquisitions [2][5] - The addition of these directors is seen as a strategic move to support Autodesk's ongoing transformation and enhance shareholder value [2][3] Group 2: Board Composition and Governance - The Autodesk Board has added five new independent directors in the last six years, reflecting a commitment to strong corporate governance [2][3] - The Board intends to reduce its size by the 2025 Annual General Meeting, indicating a focus on maintaining an effective and engaged governance structure [1][2] - The current Board composition aims to provide diverse expertise to oversee Autodesk's strategic initiatives effectively [2][3] Group 3: Leadership Statements - Stacy J. Smith, Chairman of the Board, expressed confidence that the new appointments will enhance the Board's ability to oversee Autodesk's strategy and create shareholder value [2] - Andrew Anagnost, Autodesk President and CEO, looks forward to collaborating with the new directors to drive growth and enhance margins [2] - Both Cahill and Krishnan expressed enthusiasm about joining the Board and contributing to Autodesk's strategic execution and long-term success [2][4][5]