Overview
- Adobe announced on Thursday that Anil Chakravarthy will become president and CEO on Dec. 1 and will join the company’s board.
- Shantanu Narayen will move into the role of executive chair and will work closely with Chakravarthy during the transition.
- David Wadhwani, who led Adobe’s Creativity and Productivity business and had been reported as a contender for the top job, said he is leaving the company.
- Chakravarthy is an internal executive who has run Adobe’s Customer Experience Orchestration and worldwide field operations and previously served four years as Informatica’s CEO.
- The move follows multi-year pressure on Adobe shares driven by investor concerns that AI will reshape software makers, and the company’s stock fell modestly in extended trading after the announcement.