Adobe announced that Shantanu Narayen, the long-serving CEO, will step down after leading the company for almost 20 years. Narayen will transition from the CEO position once a successor is appointed but will continue as board chair to facilitate the leadership change. A special committee has been established by the board to manage the search process, considering both internal and external candidates.
Frank Calderoni, Lead Independent Director of Adobe, praised Narayen’s contributions to the company’s transformation over the past 18 years. He highlighted Narayen’s role in positioning Adobe for success in the AI-driven era. The board is now focused on selecting the right leader to drive the company’s growth in the upcoming phase.
Narayen, in a message to employees, shared his decision to step down after more than 18 years as CEO. He expressed his commitment to work with the board to identify his successor and ensure a seamless transition. Narayen reassured that he will remain as Chair of the Board to support the incoming CEO, emphasizing continuity in leadership.
Reflecting on his tenure, Narayen noted Adobe’s significant expansion from 3,000 to over 30,000 employees and revenue growth from less than $1 billion to over $25 billion. He expressed pride in the company’s achievements and highlighted the increasing role of artificial intelligence in Adobe’s future strategy. Narayen emphasized the mission to empower everyone in the AI era.
Microsoft CEO Satya Nadella congratulated Narayen on his tenure at Adobe, acknowledging his impact on the software industry. Narayen will continue to lead Adobe during the search for his successor, ensuring a smooth transition and setting up the company for future success. Narayen, who joined Adobe almost 30 years ago and became CEO in 2007, oversaw a significant shift in the company’s business model towards a subscription-based cloud platform.
