Adobe Names Anil Chakravarthy CEO Effective Dec. 1 as Shares Fall 18% in 2026
Updated
Updated · CNBC · Sep 3
Adobe Names Anil Chakravarthy CEO Effective Dec. 1 as Shares Fall 18% in 2026
3 articles · Updated · CNBC · Sep 3
Summary
Anil Chakravarthy will take over as Adobe CEO on Dec. 1 and join the board, replacing Shantanu Narayen after the company announced his planned departure earlier this year.
Shantanu Narayen, who has led Adobe for 18 years after joining in 1998, will become executive chair and work closely with Chakravarthy during the transition.
Adobe is making the leadership change as investors worry AI could disrupt software makers, pressuring a stock that fell 25% in 2024, 21% in 2025 and 18% so far in 2026.
Adobe shares slipped about 2% in extended trading, underscoring how succession news lands amid broader skepticism about the company's AI-era growth outlook.