SAN FRANCISCO - Autodesk, Inc. (NASDAQ: NASDAQ:ADSK), a leader in 3D design, engineering, and entertainment software with a market capitalization of $63.4 billion and impressive gross profit margins of 92%, announced the immediate appointment of John Cahill and Ram Krishnan as new independent directors to its Board of Directors. The addition of Cahill and Krishnan follows a meticulous search by the Corporate Governance and Nominating Committee with assistance from a prominent independent search firm. According to InvestingPro data, the company maintains strong financial health with steady revenue growth of 11.5% over the last twelve months.
John Cahill, known for his tenure as Chairman and CEO of Kraft Foods (NASDAQ:KHC) and his role in the Kraft-Heinz merger, brings a wealth of leadership and financial expertise. Ram Krishnan, the current Executive Vice President and COO of Emerson (NYSE:EMR), offers significant industry and technology experience, particularly in industrial automation and software.
Stacy J. Smith, Chairman of the Autodesk Board, expressed enthusiasm for the appointments, highlighting the value they will add to the Board's oversight of Autodesk's strategy and shareholder interests. Autodesk President and CEO Andrew Anagnost also welcomed the new directors, anticipating their contributions to the company's strategic and growth objectives.
The announcement also notes that Lorrie Norrington, an existing board member, will not seek re-election at the 2025 Annual General Meeting. Smith acknowledged Norrington's substantial impact on Autodesk's growth and governance. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 14 additional ProTips and detailed metrics about Autodesk's valuation and performance.
Autodesk's commitment to robust corporate governance is reflected in the diverse expertise among its directors. With these appointments, the company has introduced five new independent directors over the last six years and plans to reduce the board's size by the 2025 Annual General Meeting. Discover more about Autodesk's financial performance and governance metrics in the comprehensive Pro Research Report, available exclusively on InvestingPro, along with expert analysis of 1,400+ top US stocks.
The information in this article is based on a press release statement from Autodesk.
In other recent news, Autodesk has seen noteworthy developments. The software company reported an 11% year-over-year increase in its quarterly earnings, with Non-GAAP earnings per share of $2.17, surpassing estimates. The company's new transaction model is anticipated to add about $270 million to billings, contributing 5.0-5.5 percentage points to the overall figures.
Multiple analyst firms have adjusted their outlooks on Autodesk. Macquarie initiated coverage with an Outperform rating and a price target of $380. Citi reiterated its Buy rating, maintaining a price target of $361.00, while JPMorgan increased its stock price target to $300, maintaining a Neutral rating. UBS initiated coverage with a Buy rating, citing potential for a 10% or more increase in revenue due to hiring and volume expectations. BMO Capital Markets maintained its Market Perform rating, raising the price target to $308.00.
Other company news includes the appointment of Janesh Moorjani as the new Chief Financial Officer, effective from December 16. Autodesk aims to maintain a 10-15% growth framework over the long term and is preparing for strong free cash flow growth in fiscal 2026. These are among the recent developments for Autodesk.
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