Adobe names Anil Chakravarthy as CEO, Narayen transitions to executive chair
Adobe has appointed Anil Chakravarthy as its new CEO, succeeding Shantanu Narayen, who will transition to executive chair. This leadership change occurs as Adobe faces increasing competition from new AI rivals threatening its design software dominance. The company's shares have fallen significantly, prompting efforts to reassure investors about its AI strategy.
Why it matters
This leadership transition is critical for Adobe as it navigates a rapidly evolving tech landscape dominated by AI, impacting its market position and investor confidence. The new CEO's strategy will determine Adobe's ability to maintain its lead against emerging competitors.
Adobe named Anil Chakravarthy as successor to long-time CEO Shantanu Narayen on Thursday (September 3, 2026), charging the insider with taking on a wave of new AI rivals threatening its design software dominance.
Mr. Narayen, who has served as CEO for over 18 years, will transition to executive chair, the company said.
Adobe has been trying to reassure investors worried about disruptions to its business from potential improvements in AI technology. Its shares have fallen around 18% this year after declining over 21% in 2025.
The Photoshop maker had raised its annual profit forecast in June, reflecting growing demand for its AI products and tools that are central to its strategy to hold on to its lead over challengers like Figma and Canva.
But the firm also announced the exit of finance chief Dan Durn the same month, adding to uncertainties till a permanent successor is named.
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