8-KLeadership ChangesExhibits & Filings

Autodesk, Inc. 8-K Report, Executive Changes (Oct 1, 2014)

Filed October 1, 2014For Securities:ADSK

Summary

Autodesk, Inc. (ADSK) has filed an 8-K report announcing a significant leadership change in its finance department. Effective October 1, 2014, R. Scott Herren has been appointed as the new Senior Vice President and Chief Financial Officer (CFO), and will also serve as the Principal Financial Officer starting November 1, 2014. This appointment brings in a seasoned executive with extensive financial, strategic, and operational experience, including over 15 years in senior finance roles at publicly traded companies like Citrix Systems, Inc. As part of this transition, current CEO Carl Bass will step down from his interim CFO role but will continue to lead the company as CEO, President, and a Board member. The report details Mr. Herren's compensation package, which includes a base salary of $570,000, eligibility for the Executive Incentive Plan and Change in Control Program, a $150,000 signing bonus (with a repayment clause if he leaves within a year), and equity awards in the form of restricted stock units and performance-based restricted stock units. Relocation assistance is also provided.

Key Highlights

  • 1Autodesk appoints R. Scott Herren as new Senior Vice President and Chief Financial Officer, effective November 1, 2014.
  • 2Mr. Herren brings 30 years of financial experience, including senior finance roles at Citrix Systems and FedEx.
  • 3Current CEO Carl Bass will transition from Interim CFO back to his full-time CEO and President roles.
  • 4Mr. Herren's annual base salary is set at $570,000.
  • 5He will receive a $150,000 signing bonus, subject to repayment if he resigns within one year of employment.
  • 6Equity compensation includes grants of 36,000 restricted stock units and 36,000 performance-based restricted stock units, vesting over three years.
  • 7The appointment aims to strengthen Autodesk's financial leadership with experienced executive talent.

Frequently Asked Questions

Autodesk has appointed R. Scott Herren as the new Senior Vice President and Chief Financial Officer. He is expected to commence his role on November 1, 2014.

Mr. Herren, age 53, has 30 years of financial, strategic, and operational experience. Most recently, he served as Senior Vice President, Finance at Citrix Systems, Inc., and previously held senior financial positions at FedEx Corporation and International Business Machines Corporation.

His compensation includes an annual base salary of $570,000, a $150,000 signing bonus (repayable if he resigns within one year), eligibility for the Executive Incentive Plan (75% target) and Executive Change in Control Program, and equity awards consisting of 36,000 restricted stock units and 36,000 performance-based restricted stock units, vesting over three years.

Carl Bass, the current CEO and President, served as Interim Chief Financial Officer. He will resign from the Interim CFO position on November 1, 2014, but will continue to serve as Chief Executive Officer, President, and as a member of the Board of Directors.