If you use Photoshop or Acrobat, this is a big hand at the tiller. Adobe said Thursday that Anil Chakravarthy will take over as president and chief executive on Dec. 1, and he will also gain a seat on the board. Shantanu Narayen, who said in March he would step down after joining Adobe in 1998 and serving 18 years as CEO, will become executive chair and "work closely" with Chakravarthy through the transition.
"Adobe's opportunity ahead is limitless with our track record in creating new market categories and world-class products," Narayen said, calling Chakravarthy "an experienced transformational leader who leads with values, integrity and a deep knowledge of our business."
At Adobe, his most recent remit covered orchestrating the customer experience and overseeing global field teams, and he came aboard nearly seven years ago following his tenure as CEO of Informatica. He said in a 2021 CNBC interview that he connected with Adobe and Narayen through Informatica's partnership with the company. "A lot of the reason I came was the opportunity to work with him and work with the leadership team at Adobe," Chakravarthy told CNBC at the time.
In tandem with the CEO announcement, top Adobe executive David Wadhwani said he will leave the company. For nearly five years, Wadhwani has led Adobe's creativity and productivity unit. CNBC had earlier reported that Wadhwani was viewed as a leading candidate to become Adobe's next CEO, helped by his prominent role in the bid to acquire Figma, a deal Adobe and Figma ultimately scrapped in 2023 over regulatory hurdles. On LinkedIn, he said he's mulling a few company ideas to "explore and pressure-test," adding, "As much as Adobe means to me, I've decided this is the right moment for me to start a new chapter, and it's a great moment for Adobe to do the same as Anil steps into the CEO role," and, "I've had the privilege to work alongside Anil the last few years and I leave confident in where he'll take Adobe."
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Adobe is reshuffling the top job while its stock wrestles with investor angst that AI could upend incumbent software makers. Following a strong 2023, the stock dropped 25% in 2024, then slid another 21% in 2025, and it is off 18% year-to-date in 2026. The stock slipped about 2% in extended trading after the announcement.
New CEO, same AI debate. The handoff pairs Narayen as executive chair with a leader steeped in Adobe's go to market and customer platforms, just as investors are trying to size how generative AI fits into design and productivity software. Watch how quickly Chakravarthy lays out product road maps and revenue signals. Clear updates on strategy, the Figma gap, and AI features could matter more to your portfolio than the name on the corner office.
