Adobe CEO Shantanu Narayen to Step Down After Appointing Successor Adobe’s chief executive officer, Shantanu Narayen, will leave his role after the company has named a successor, according to a statement released by the firm. Narayen, who has led the design software company since 2007, will remain as board chair to support the transition. The announcement came as Adobe shares fell 7% in extended trading, continuing a broader decline in software stocks driven by concerns over the impact of generative artificial intelligence. Narayen, 62, joined Adobe in 1988 as a vice president and general manager before becoming CEO in 2007. During his tenure, Adobe shifted from traditional software licenses to a subscription-based model with its Creative Cloud service. The company has since focused on expanding its offerings through generative AI, though its attempt to acquire Figma—a fast-growing design software company—was abandoned after regulatory pushback. Adobe paid Figma a $1 billion breakup fee as a result. In a statement, Frank Calderoni, Adobe’s lead independent director, praised Narayen’s leadership, calling him “the architect of Adobe’s transformation over the past 18 years” and highlighting his role in positioning the company for success in the AI-driven era. Narayen will stay on the board to assist the new CEO, following the example of co-founders John Warnock and Charles “Chuck” Geschke, who supported him when he became chief. Narayen’s leadership coincided with significant growth for Adobe. The company’s stock rose more than sixfold during his tenure, outperforming the S&P 500’s 350% gain over the same period. In a memo to employees, Narayen reflected on his time at Adobe, emphasizing the company’s history of innovation and its ability to attract top talent.#shantanu_narayen #adobe #creative_cloud #frank_calderoni #figma
