Software company Autodesk ( ADSK) announced on Monday evening that it has named co-CEO Andrew Anagnost as its permanent president and only CEO.
Anagnost shared the title of interim co-CEO Amar Hanspal, who will leave the company on July 10.
Hanspal was the SVP, chief product officer, and became an interim co-CEO when former CEO Carl Bass stepped down in February.
Shares of Autodesk closed higher by 1.22% to $106.16 per share on Monday.
Shares of the firm are higher over 25% since February when the two took over as the co-CEOs.
What's Hot On the TheStreet
All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.
But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.
"When you have these sellers come in, all you have to do is wait them out -- and one of the things I learned as a hedge fund manager is that patience is a true virtue," TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on Apple's recent slide.