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Adobe CEO Shantanu Narayen to step down after 18 years

Adobe announced Thursday that CEO Shantanu Narayen will step down after 18 years. Shares fell 7% as the firm navigates a shifting landscape driven by AI.

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Adobe Inc. announced on Thursday that its long-standing Chief Executive Officer, Shantanu Narayen, will transition out of his role once a successor has been appointed. Following the news, shares of the software giant fell by approximately 7% in extended trading.

The Adobe logo is displayed on a smartphone screen in a 2022 illustration. REUTERS/Dado Ruvic/Illustration
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