Adobe CEO Shantanu Narayen announced his decision to step down immediately after a successor was named. He has been Adobe CEO for 18 years but will remain as Chairman of the company's Board of Directors.
The board has formed a special committee to find a new CEO candidate with consideration given to candidates from both inside and outside the organization. With the change in the company's leadership, Adobe is still emphasizing its mission to empower creativity, productivity and customer experience through its platforms.
The announcement came after Adobe announced its Q1 2026 financial report with revenue reaching $6.40 billion, an increase of 12% compared to the same quarter last year. However, the company's shares have plunged since last year, driven by negative sentiment as Adobe introduced various new AI features that were seen as anti-artists.
