Adobe names Anil Chakravarthy as next CEO, replacing Narayen after 19 years

Adobe ↗ 0.50% announced Thursday that Anil Chakravarthy will become the company's next president and chief executive officer effective December 1, 2026, succeeding Shantanu Narayen, who has led the software maker since 2007. Narayen will transition to the role of executive chair. Shares fell about 2% in extended trading following the announcement.businesswire+2

An Internal Successor

Chakravarthy, currently president of Adobe's Customer Experience Orchestration business and worldwide field operations, was selected after what lead independent director Frank Calderoni described as a "rigorous selection process" by a special board committee. The board unanimously approved the appointment.businesswire

"I am deeply honored to have been chosen to lead Adobe during this pivotal moment," Chakravarthy said in a company statement. "I'm energized by the opportunity to fuel growth and drive Adobe's leadership in the next era of agentic software for creativity, productivity and customer experience."businesswire

Chakravarthy joined Adobe in January 2020 and rose through the ranks, overseeing the expansion of its enterprise business and leading the development of products including Adobe CX Enterprise, GenStudio and Brand Visibility. He also championed the acquisitions of Workfront and Semrush. Before Adobe, he served as CEO of Informatica for four years and held executive roles at Symantec, VeriSign and McKinsey & Company.investing+1

Leadership Transition Amid AI Push

The succession caps months of uncertainty at Adobe. Narayen announced in March that he would step down once a successor was named, and CFO Dan Durn resigned in June, leaving Steve Day as interim finance chief. The leadership churn had weighed on investor sentiment as Adobe works to position itself in an increasingly competitive AI-driven design market.reuters+1

Narayen said he was "confident that Anil is the right person to lead Adobe's growth in an AI-driven era". Chakravarthy holds a Ph.D. from MIT and a Bachelor of Technology from the Institute of Technology, Varanasi, India.businesswire

What Comes Next

Investors will get their next look at Adobe's trajectory when the company reports fiscal third-quarter results on September 10. Ahead of the earnings report, RBC Capital analyst Matthew Swanson raised his price target on Adobe to $315 from $285, projecting that annual recurring revenue will top the $27.47 billion consensus estimate. How Chakravarthy articulates his strategic vision on that call — particularly around pricing, go-to-market changes and AI product adoption — will set the tone for his tenure before it formally begins.tipranks+1