{"id":1271,"date":"2026-03-13T00:55:40","date_gmt":"2026-03-13T00:55:40","guid":{"rendered":"https:\/\/stock999.top\/?p=1271"},"modified":"2026-03-13T00:55:40","modified_gmt":"2026-03-13T00:55:40","slug":"adobe-ceo-is-stepping-down-after-18-years-as-pressure-on-the-company-mounts-to-deliver-on-ai","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=1271","title":{"rendered":"Adobe CEO is stepping down after 18 years\u2014as pressure on the company mounts to deliver on AI"},"content":{"rendered":"

<\/p>\n

Adobe is searching for a new chief executive after CEO Shantanu Narayen said Thursday that he plans to step down after 18 years in the role.<\/p>\n

Narayen announced that he will step down once a successor is appointed. He will remain chair of the board.<\/p>\n

\u201cOver the coming months, I will be working with Frank Calderoni, our lead director, and the board of directors to identify my successor and to ensure a smooth transition,\u201d Narayen said in a memo to employees.<\/p>\n

On Thursday after the bell, Adobe reported financial results for its first quarter of fiscal year 2026, which ended Feb. 27. Earnings per share (EPS) came in at $6.06, beating analysts\u2019 estimate of $5.87 per share. Revenue hit $6.4 billion, topping analysts\u2019 expectations of $6.28 billion, while sales increased 12.1% year over year.<\/p>\n

Annualized revenue from AI-first products more than tripled year over year, Narayen said in a statement accompanying the earnings release. \u201cOur mission to empower everyone to create represents an even larger opportunity as content powers all experiences in the AI era,\u201d he said.<\/p>\n

The company delivered 13% subscription revenue growth and record first-quarter cash flow of $2.96 billion, Adobe EVP and CFO Dan Durn said in a statement. \u201cAs we accelerate AI-powered capabilities across creativity, productivity and customer experience orchestration, Adobe is well positioned for continued profitable growth,\u201d he said.<\/p>\n

For the fiscal second quarter, Adobe expects adjusted earnings between $5.80 and $5.85 per share on revenue of $6.43 billion to $6.48 billion, above analyst forecasts of $5.68 per share and $6.42 billion, according to LSEG data.<\/p>\n

While Adobe, No. 201 on the Fortune 500, topped first-quarter estimates, its second-quarter and full-year guidance only modestly exceeded Wall Street forecasts, and the stock slipped with the CEO transition announcement and as investors sought a more aggressive outlook. Adobe fell about 1.43% in after-hours trading.<\/p>\n

Narayen\u2019s departure comes as Wall Street debates whether artificial intelligence could reduce demand for some traditional software tools. In early February, a broad sell-off in sell-off in SaaS\u00a0 and cloud stocks\u2014labeled by some investors as \u201cSaaS-mageddon\u201d\u2014reflected fears that agentic AI could undermine per-seat software pricing.<\/p>\n

\u201cThe next era of creativity is being written right now\u2014shaped by AI, by new workflows and by entirely new forms of expression,\u201d Narayen said in his memo to employees. \u201cAdobe has never waited for the future to arrive. We\u2019ve anticipated it. We\u2019ve built it. And we\u2019ve led it. What gives me the greatest confidence isn\u2019t just our technology\u2014it\u2019s our people.\u201d<\/p>\n

Narayen joined Adobe in January 1998 as vice president and general manager of the company\u2019s engineering technology group. He later rose through the executive ranks, becoming president and COO in 2005, and has served as CEO since December 2007.<\/p>\n

Over those 28 years, the company grew from about 3,000 employees to more than 30,000 and increased revenue from less than $1 billion to more than $25 billion, he wrote in the memo.<\/p>\n

Several chief executives have publicly supported Narayen. Satya Nadella, CEO of Microsoft, wrote in a post on X that Narayen \u201cbuilt one of the most important software companies in the world.\u201d<\/p>\n

\u201cWhat has always stood out to me is the empathy you\u2019ve brought to the creative process and the example you\u2019ve set as a leader,\u201d Nadella added. \u201cGrateful for your friendship, mentorship, and for all you\u2019ve done for Adobe and for our industry.\u201d<\/p>\n

Adobe has not yet announced a timeline for selecting Narayen\u2019s successor.<\/p>\n

#Adobe #CEO #stepping #yearsas #pressure #company #mounts #deliver<\/p>\n","protected":false},"excerpt":{"rendered":"

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