Adobe on Thursday said Anil Chakravarthy will become its next chief executive, taking over from Shantanu Narayen, who announced earlier this year he would step down after 18 years at the helm.
Chakravarthy, who most recently served as president of Adobe’s customer experience orchestration and worldwide field operations, will assume the role Dec. 1, the company said. He will also join Adobe’s board of directors.
Narayen will transition to executive chair and “work closely” with Chakravarthy during the handover, according to Adobe. Narayen first announced in March that he would leave the top job, though he remains with the company in a strategic capacity.
“Adobe’s opportunity ahead is limitless with our track record in creating new market categories and world-class products,” Narayen said in a statement. “Anil is an experienced transformational leader who leads with values, integrity and a deep knowledge of our business.”
AI-driven stock slide
The leadership change comes as Adobe’s stock has struggled under investor worries that artificial intelligence will disrupt software makers’ traditional business models. After a strong 2023, Adobe shares have declined sharply, losing 25% in 2024 and another 21% in 2025. The stock is down 18% so far in 2026.
Shares slipped about 2% in extended trading following the announcement.
Chakravarthy’s promotion signals a focus on customer experience and field operations, areas where he has overseen Adobe’s go-to-market strategy. He takes over a company navigating a fast-changing AI landscape, with investors weighing how tools that generate content and automate workflows might erode demand for Adobe’s creative software suite.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/03/adobe-anil-chakravarthy-ceo.html
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