SAN RAFAEL, Calif.,
Nov. 12, 2020 /PRNewswire/
-- Autodesk, Inc. (Nasdaq: ADSK) today announced the departure
of Scott Herren, the company's senior vice president
and chief financial officer. After more than six years at
Autodesk, Herren is leaving the design and engineering
software leader in mid-December to become chief financial
officer at Cisco.
"Scott has played a critical role in driving the business over
the last six years and was instrumental in helping Autodesk
successfully navigate the business model transition," said
Andrew Anagnost, Autodesk president
and CEO. "I want to thank Scott for the many contributions he has
made to Autodesk and wish him continued success in the next chapter
of his career."
"It's been a great run and I am proud to have been part of six
transformational years at Autodesk," said Herren. "It has been a
pleasure working with everybody at the company, growing an
exceptionally talented finance organization and establishing a
leadership position in design and make technology. With the
transition to a SaaS business model now complete, I leave knowing
Autodesk is well positioned for the future."
Autodesk has initiated a selection process for a new chief
financial officer. Fiscal third quarter 2021 results, which will be
reported on November 24th,
2020, are expected to be above Autodesk's guidance range across all
Q3 guidance metrics. The company remains confident in its fiscal
2023 financial goals and the long-term potential from digitization
across AEC, the convergence of design and make in manufacturing,
and the monetization of non-compliant and legacy users.
Safe Harbor Statement
This press release contains
forward-looking statements that involve risks and uncertainties,
including quotations from management and statements about our
financial goals, our strategies, industry and product potential,
performance, and results. There are a significant number of factors
that could cause actual results to differ materially from
statements made in this press release, including: failure to
achieve our revenue and profitability objectives; failure to
successfully manage transitions to new business models and markets;
failure to maintain cost reductions or otherwise control our
expenses; difficulty in predicting revenue from new businesses and
the potential impact on our financial results from changes in our
business models; developments in the COVID-19 pandemic and the
resulting impact on our business and operations; general market,
political, economic, and business conditions, including from an
economic downturn or recession in the
United States or in other countries around the world; any
imposition of new tariffs or trade barriers; the impact of non-cash
charges on our financial results; fluctuation in foreign currency
exchange rates; the success of our foreign currency hedging
program; our performance in particular geographies, including
emerging economies; the ability of governments around the world to
meet their financial and debt obligations, and finance
infrastructure projects; weak or negative growth in the industries
we serve; slowing momentum in subscription billings or revenues;
difficulties encountered in integrating new or acquired businesses
and technologies; the inability to identify and realize the
anticipated benefits of acquisitions; the financial and business
condition of our reseller and distribution channels; dependence on
and the timing of large transactions; pricing pressure; unexpected
fluctuations in our annual effective tax rate; significant effects
of tax legislation and judicial or administrative interpretation of
tax regulations, including the Tax Cuts and Jobs Act; the timing
and degree of expected investments in growth and efficiency
opportunities; changes in the timing of product releases and
retirements; and any unanticipated accounting charges. Our
estimates as to tax rate are based on current tax law, including
current interpretations of the Tax Cuts and Jobs Act, and could be
affected by changing interpretations of that Act, as well as
additional legislation and guidance around that Act.
Further information on potential factors that could affect the
financial results of Autodesk are included in Autodesk's Form 10-K
and subsequent forms 10-Q, which are on file with the U.S.
Securities and Exchange Commission. Autodesk disclaims any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
About Autodesk
Autodesk makes software for people who make things. If you've
ever driven a high-performance car, admired a towering skyscraper,
used a smartphone, or watched a great film, chances are you've
experienced what millions of Autodesk customers are doing with our
software. Autodesk gives you the power to make anything. For more
information visit autodesk.com or follow @autodesk.
Autodesk is a registered trademark of Autodesk, Inc., and/or
its subsidiaries and/or affiliates in the USA and/or other countries. All other brand
names, product names or trademarks belong to their respective
holders. Autodesk reserves the right to alter product and services
offerings, and specifications and pricing at any time without
notice and is not responsible for typographical or graphical errors
that may appear in this document.
© 2020 Autodesk, Inc. All rights reserved.
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SOURCE Autodesk, Inc.