Adobe to Change CEOs for the First Time in 18 Years as Chakravarthy Takes Over

[Financial News] Global software company Adobe has appointed Anil Chakravarthy as its next president and chief executive officer (CEO), succeeding Shantanu Narayen.
CNBC reported on the 3rd, local time, that Chakravarthy, who until recently oversaw Adobe’s customer experience orchestration and global field operations, will officially take office as CEO on December 1 and is expected to join the board. Narayen, who joined Adobe in 1998 and has led the company for 18 years, will become executive chairman of the board and assist with the leadership transition.
Chakravarthy, Adobe’s incoming CEO, joined the company about seven years ago after serving as CEO of enterprise data management company Informatica. Narayen expressed strong confidence in him, saying, "Anil Chakravarthy is a proven transformational leader with strong values, integrity, and a deep understanding of our business."
Adobe’s leadership change comes amid market concerns that the rapid rise of generative AI could undermine the position of established software companies. After surging in 2023, Adobe’s stock declined 25% in 2024 and 21% in 2025, followed by an additional drop of about 18% so far this year.
Adobe also announced alongside the leadership change that Senior Vice President David Wadhwani, who led its core Creativity and Productivity businesses for five years, will leave the company.
Wadhwani had been considered one of the leading candidates to become Adobe’s next CEO after spearheading the company’s attempted acquisition of Figma. However, he decided to resign to pursue a new challenge. In a LinkedIn post, he said, "Now that Anil Chakravarthy is taking on the role of CEO, this is the right time for both Adobe and me to begin a new chapter."
[email protected] Yoon Jae-jun Reporter