Shantanu Narayen to Step Down as Adobe CEO
2 sources·2 updates
Shantanu Narayen has announced his resignation as CEO of Adobe, a position he has held since 2007, amid growing concerns about the company's future in the AI sector. While Adobe's sales forecast for the current quarter exceeded estimates, it failed to alleviate investor apprehensions, leading to a 7% drop in the company's shares during extended trading hours following the announcement.
Key Points
Adobe reported a net income of $1.89 billion for the fiscal first quarter, reflecting a 12% year-over-year revenue growth.
Narayen's leadership saw Adobe's stock increase more than sixfold since he took over in 2007.
Timeline
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