Autodesk said today that it had appointed Kodak CEO Jeff Clarke, Sachem Head Capital Management Managing Partner Scott Ferguson, and Tessera Technologies Chairman Rick Hill to its board of directors. The announcement arrived along with news that Autodesk had settled with activist shareholders Sachem Head and Eminence Capital, who held a combined 11.5 percent stake in the company.
Before joining Kodak, Clarke was a managing partner of private investment firm Augusta Columbia Capital. His career has included stints as CEO of Orbitz parent Travelport, COO of enterprise software company CA, EVP of Hewlett-Packard and CFO of Compaq Computer.
It's a difficult time for Autodesk to deal with pressure on short-term earnings, as the company is in the midst of its transition to a cloud-based subscription business model, which is widely expected to drive long-term growth despite a decline in quarterly revenue, year over year, as the move takes place. Autodesk software suites will be available by subscription only beginning August 1.
Company executives cite strong growth in subscriptions as evidence of Autodesk's growth potential, but they also cut 925 jobs, or about 10 percent of its workforce, in a restructuring announced last month.
