Adobe names Anil Chakravarthy as CEO, replacing Shantanu Narayen
Adobe CEO transition names Anil Chakravarthy as Adobe’s next leader See what the change means for investors as AI pressure hits the stock
Adobe said Anil Chakravarthy will become its next president and CEO on Dec. 1, replacing Shantanu Narayen, who had previously said he would step down after 18 years leading the company.
Chakravarthy currently serves as president of Adobe’s customer experience orchestration and worldwide field operations. He will also join Adobe’s board. Narayen will shift to executive chair and work with Chakravarthy during the transition.
The leadership change comes as Adobe’s stock has fallen this year amid investor concern that artificial intelligence could disrupt software companies. Adobe shares were down about 2% in extended trading after the announcement.