From Yahoo Finance: 2025-04-14 19:12:00

T. Rowe Price Investment Management, a major investor in Autodesk, plans to support activist investor Starboard Value’s director nominees in a boardroom challenge. T. Rowe Price owned 1.08% of Autodesk’s stock in Q4 2024, ranking as the 14th biggest holder. Starboard nominated three candidates, including its CEO, due to company underperformance.

T. Rowe Price Investment Management, part of the T. Rowe Price Group overseeing $1.6 trillion, is separate from T. Rowe Price Associates, which owned 2.21% of Autodesk stock. The split three years ago allows more flexibility in investment decisions. T. Rowe Price Associates has not finalized its voting decision yet.

The boardroom fight at Autodesk is a high-profile proxy contest this year, with Starboard criticizing the company’s underperformance. Other companies like Qorvo and U.S. Steel have also faced pressure from corporate agitators, settling disputes amid market uncertainty. Starboard’s nominees aim to address performance issues and drive change.

Read more: T. Rowe Price Investment Management to back Starboard in Autodesk proxy fight, source says