Shantanu Narayen [1]announced he will [2]step down as CEO of Adobe once a successor is appointed, ending an 18-year tenure during which he transformed the company from boxed software to the Creative Cloud subscription model. Narayen said he will remain board chair as Adobe continues pushing into generative AI products. CNBC reports:

> Narayen joined Adobe in 1988 as a vice president and general manager, and he became CEO in 2007. Under Narayen, Adobe pushed from software licenses to subscriptions to its Creative Cloud application bundle, and the company is now working to expand through generative artificial intelligence. He sought to acquire fast-growing design software company Figma, but regulators pushed back, and the companies [3]called off the deal , resulting in Adobe paying Figma a $1 billion breakup fee. [...]

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> Narayen, 62, is lead independent director of Pfizer in addition to his responsibilities at Adobe, where he received $51 million in total compensation for the 2025 fiscal year, according to a filing. He owns $118 million in Adobe shares, according to FactSet. [...] On Narayen's watch, Adobe's stock jumped more than sixfold, while the S&P 500 is up about 350% over that stretch.

"What attracted me to Adobe 28 years ago was our leadership in creating new market categories, world-class products, a relentless desire to innovate in every functional area of the company and the people I met during the interview process," Narayen wrote. "We have continued to create new markets, deliver world-class products, drive innovation in everything we do and attract and retain the best and brightest employees."



[1] https://news.adobe.com/news/2026/03/employee-memo

[2] https://www.cnbc.com/2026/03/12/adobe-ceo-shantanu-narayen-step-down.html

[3] https://slashdot.org/story/23/12/18/1317239/adobe-abandons-20-billion-acquisition-of-figma