Adobe announced on Thursday that Anil Chakravarthy will become its new president and CEO, effective December 1, succeeding Shantanu Narayen, who will transition to executive chairman. Chakravarthy, a nearly seven-year Adobe veteran, previously led the customer experience orchestration division and global field operations. Meanwhile, David Wadhwani, head of creative and productivity business, is leaving the company. The leadership change comes as Adobe's stock continues to decline, with shares falling 25% in 2024, 21% in 2025, and 18% year-to-date in 2026, amid market concerns that generative AI tools could erode demand for traditional subscription software. (BeInCrypto)
Adobe on Thursday announced the appointment of Anil Chakravarthy as its new president and CEO, succeeding Shantanu Narayen, who led the company for 18 years. Narayen will transition to executive chairman, effective December 1, when Chakravarthy will also join the board.
Chakravarthy, who has been with Adobe for nearly seven years, previously led the customer experience orchestration division and global field operations. Meanwhile, David Wadhwani, head of creative and productivity business, is leaving the company.
The leadership change comes as Adobe's stock price continues to face pressure. Shares fell 25% in 2024, another 21% in 2025, and have dropped 18% so far in 2026. Market concerns that generative AI tools could erode demand for traditional subscription software have weighed on software stocks broadly. (BeInCrypto)
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