SHANTANU NARAYEN, the Indian-born chief executive of Adobe, announced on Thursday (12) that he will leave his role once a successor is found, ending an 18-year tenure that turned the software giant into a global creative powerhouse.
Adobe's shares fell by more than seven per cent in after-hours trading on the news, according to Reuters, as investors fretted about the company's direction in an era of fast-moving artificial intelligence.
In a message to staff, Narayen reflected on a journey that began when he joined the company 28 years ago. Under his watch, Adobe grew from roughly 3,000 employees to more than 30,000, and its annual revenues climbed from under £750 million to more than £18.7 billion. Products such as Photoshop, Illustrator, Premiere Pro and InDesign, once niche tools for designers, became everyday names for creative professionals the world over.
"I love Adobe and the privilege of leading it has been the greatest honour of my career," he wrote, adding that he remained "more confident than ever that Adobe's best days are still to come."
He added, "The next era of creativity is being written right now — shaped by AI, by new workflows and by entirely new forms of expression. Adobe has never waited for the future to arrive. We’ve anticipated it. We’ve built it. And we’ve led it. What gives me the greatest confidence isn’t just our technology — it’s our people. Your ingenuity, resilience and commitment to customers are what will define this moment.
"The opportunity in front of us is extraordinary. Together, we are uniquely positioned to lead it — and I remain deeply committed to doing so as we look ahead and prepare to name Adobe’s next CEO. I am more confident than ever that Adobe’s best days are still to come."
Narayen, 62, was born and brought up in Hyderabad, India, where he attended the same school, Hyderabad Public School, as Microsoft chief executive Satya Nadella. He studied engineering at Osmania University before moving to the US in the mid-1980s for postgraduate studies, later earning an MBA from the University of California, Berkeley.
India recognised his achievements with a Padma Shri award in 2019. He will remain as chairman of the board to help steady the ship during the handover, according to reports.
Adobe has been under pressure as AI reshapes the creative software market, with new tools lowering the bar for design and fresh competitors moving in fast. Adobe's shares have fallen around 22 per cent this year alone, after dropping more than 21 per cent in 2025, Reuters noted.
Grace Harmon, an analyst at Emarketer, said investors would be watching closely to see whether the incoming leadership can balance careful financial management with bold investment in AI, particularly as rivalry in creative and enterprise AI heats up.
The board has appointed lead independent director Frank Calderoni to head the search committee, which will consider both internal and external candidates, a statement said.
