Shantanu Narayen has announced that he will step down as Chief Executive Officer (CEO) of Adobe after serving in the role for 18 years. He shared the news just before leading his 100th earnings call for the company.
Narayen will not be leaving Adobe entirely, and instead transition to the role of Chair of the Board, where he plans to support the incoming CEO in a transition similar to the one followed by his predecessors.
The Board of Directors at Adobe have formed a special committee to identify the company’s next CEO, considering both internal and external candidates. Frank Calderoni has been appointed to lead the search process. In the coming months, Shantanu Narayen will work closely with Calderoni and the Board to ensure a smooth leadership transition while continuing to focus on the company’s near term business priorities.
During his 28 years at Adobe, Shantanu oversaw significant operational growth. Under his leadership, the company’s workforce expanded from around 3000 employees to more than 30,000, while annual revenue increased from under one billion dollars to over twenty five billion dollars.
Looking ahead, Narayen noted that Adobe is placing strong emphasis on integrating artificial intelligence into its creative tools. Alongside company growth, he will also be expected to discuss the leadership transition and the company’s recent quarterly performance.
Frank Calderoni, Lead Independent Director of Adobe, said, “On behalf of the Board, I want to recognize Shantanu’s contributions as CEO and architect of Adobe’s transformation over the past 18 years, and for positioning Adobe for success in the AI-driven era, As we take the next step in succession planning, we are focused on selecting the right leader for this next exciting chapter of the company’s growth and are grateful for Shantanu’s continued leadership as CEO to ensure a smooth transition.”
