Adobe names Anil Chakravarthy CEO as Narayen steps down
The leadership change comes as Adobe shares face investor concerns over generative AI and subscription software demand.
Adobe has appointed Anil Chakravarthy as president and chief executive, replacing Shantanu Narayen from 1 December. Narayen will become executive chair and support the transition, while Chakravarthy will join Adobe’s board.
Chakravarthy most recently led Adobe’s customer experience orchestration unit and worldwide field operations. He joined the company nearly seven years ago after serving as chief executive of Informatica, an enterprise data management company that had partnered with Adobe.
Narayen has led Adobe for 18 years, having joined the company in 2007. David Wadhwani will also leave Adobe after nearly five years leading its creativity and productivity business. The source does not specify when Wadhwani’s departure will take effect or who will replace him.
Yahoo Finance reported that Adobe shares fell about 2% in extended trading after the announcement. The stock was reportedly down 25% in 2024, 21% in 2025 and 18% in 2026 before the leadership change.
The succession comes amid broader investor concerns that generative AI tools could reduce demand for subscription software. Those concerns have weighed on software stocks, although the impact of AI on Adobe’s subscription demand remains uncertain.
