Adobe has named Anil Chakravarthy as its new president and CEO, taking over from Shantanu Narayen, who will transition to executive chair. Chakravarthy, a seasoned leader with extensive experience at Adobe and previously as CEO of Informatica, will assume his new role on December 1st.
The leadership change occurs as Adobe faces investor concerns regarding AI’s impact on software companies, contributing to a recent decline in its stock performance. Additionally, key executive David Wadhwani is departing the company.
Adobe Selects Anil Chakravarthy as Next CEO, Shantanu Narayen Transitions to Executive Chair
September 26, 2026
Corporate signage at an Adobe office building in Lehi, Utah. (Charles-McClintock Wilson | Nurphoto | Getty Images)
Leadership Transition at Adobe
Adobe announced today that Anil Chakravarthy has been appointed as the company's new president and chief executive officer, succeeding Shantanu Narayen. Narayen, who had announced his intention to step down earlier this year after an 18-year tenure, will assume the role of executive chair. Chakravarthy, currently president of Adobe's customer experience orchestration and worldwide field operations, will officially take the helm on December 1st and will also join Adobe's board of directors.
In a statement, Narayen expressed confidence in his successor, stating, "Adobe's opportunity ahead is limitless with our track record in creating new market categories and world-class products. Anil is an experienced transformational leader who leads with values, integrity and a deep knowledge of our business."
Chakravarthy joined Adobe nearly seven years ago, bringing with him experience as the former CEO of enterprise data management company Informatica. He previously told CNBC that his connection to Adobe and Narayen was forged through a partnership with Informatica.
Navigating Market Challenges
The leadership change comes at a critical juncture for Adobe, as the company's stock has experienced a significant decline amidst broader investor concerns about the potential disruption of software companies by artificial intelligence. Following a strong performance in 2023, Adobe shares have seen a downturn, with a 25% drop in 2024 and a further 21% decrease in 2025. The stock is down 18% year-to-date in 2026. Shares of Adobe saw a modest decline of approximately 2% in after-hours trading following the announcement.
Key Executive Departures
In conjunction with the CEO announcement, David Wadhwani, a key executive at Adobe and president of its creativity and productivity business, also announced his departure. Wadhwani was previously considered a strong candidate for the CEO position, partly due to his pivotal role in Adobe's attempted acquisition of Figma. However, that $20 billion deal was ultimately called off in 2023 due to regulatory challenges. Wadhwani expressed his confidence in Chakravarthy, stating in a LinkedIn post, "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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