Adobe Names Anil Chakravarthy CEO But AI Fears Are Impacting the Stock
Adobe (ADBE) named Anil Chakravarthy as its next president and CEO on Thursday. He replaces Shantanu Narayen, who is stepping down after 18 years as AI concerns weigh on Adobe's stock.
Narayen will become executive chair and support Chakravarthy through the handover, which takes effect Dec. 1. Chakravarthy will also join Adobe's board at that time.
The Leadership Handoff
Chakravarthy most recently led Adobe's customer experience orchestration unit and its worldwide field operations. He joined Adobe nearly seven years ago after serving as chief executive of Informatica, an enterprise data management company. That company had partnered with Adobe under Narayen.
"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."
Shantanu Narayen, Adobe's outgoing CEO, in a statement
"A lot of the reason I came was the opportunity to work with him and work with the leadership team at Adobe."
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