Adobe has announced that Anil Chakravarthy will become its next president and CEO, succeeding Shantanu Narayen, who will step down after 18 years in the role. Narayen, who joined Adobe in 1998 and has served as CEO for nearly two decades, will transition to the role of executive chair and will work closely with Chakravarthy during the leadership transition. Chakravarthy, who previously served as president of Adobe's customer experience orchestration and worldwide field operations, will officially assume the CEO position and join Adobe's board on December 1, 2026 [1].
The leadership change comes at a challenging time for Adobe, as the company's stock has experienced significant declines. After a strong performance in 2023, Adobe shares fell 25% in 2024, dropped another 21% in 2025, and are down 18% so far in 2026. Following the announcement, Adobe's shares fell about 2% in extended trading. The stock's decline has been attributed to investor concerns that artificial intelligence could disrupt software makers like Adobe [1].
In a statement, Narayen expressed confidence in Adobe's future, highlighting the company's history of creating new market categories and world-class products. He described Chakravarthy as an experienced transformational leader with values, integrity, and deep knowledge of Adobe's business [1].
CONCLUSION
Adobe's appointment of Anil Chakravarthy as CEO marks a significant leadership transition during a period of notable stock declines and market uncertainty. The company's shares reacted negatively to the news, reflecting ongoing investor concerns about the impact of artificial intelligence on Adobe's business. The transition aims to position Adobe for future growth under new leadership.