Adobe has named Anil Chakravarthy as its next president and CEO, replacing Shantanu Narayen who is stepping down after 18 years leading the company. The leadership change takes effect December 1, with Chakravarthy joining Adobe’s board at that time after previously heading its customer experience orchestration unit and worldwide field operations. Adobe shares have fallen 25% in 2024, 21% in 2025, and 18% in 2026, as investors worry generative AI tools could erode demand for subscription software. Chakravarthy will need to show Adobe’s own AI tools can outpace cheaper rivals starting in December.
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