Adobe sets 2026 CEO transition to Chakravarthy

Adobe has named Anil Chakravarthy as its next president and chief executive officer, setting December 1, 2026 as the date he will assume the role. On that date, current CEO Shantanu Narayen is scheduled to transition to the position of executive chair, shifting from day-to-day leadership to an oversight role on the board.

The company stated that its board of directors unanimously selected Chakravarthy after conducting a search process. As part of the transition, Chakravarthy will also join Adobe’s board, aligning the company’s top executive role with board-level responsibilities.

The unanimous decision by Adobe’s board to appoint Chakravarthy formalizes a planned succession at the top of the company. Adding the incoming chief executive to the board is intended to integrate management leadership with corporate governance during and after the handover.

With Narayen expected to become executive chair, Adobe will retain his involvement in strategic oversight while shifting operational control to Chakravarthy once the transition is effective. The structure sets out a clear division between executive management and board leadership roles following the change.

Around the time Adobe announced Chakravarthy’s appointment as future CEO and Narayen’s move to executive chair, the company’s shares declined by roughly 6.7% in trading. Multiple market sources cited a drop of about 6.73%, indicating a negative near-term reaction from investors to the news.

Reports also noted smaller moves in after-hours trading, but the most widely referenced figure around the announcement was the roughly 6.7% decline. The share-price reaction placed the leadership news in the context of investor expectations for Adobe’s future direction.

The leadership change coincides with the announced departure of David Wadhwani, who led Adobe’s creativity and productivity business. Wadhwani had been considered a potential internal candidate for the chief executive role before Chakravarthy’s selection.

His exit removes one of Adobe’s most visible senior leaders from the management team at the same time the company is setting out a long-term transition at the top. The overlap between the CEO announcement and Wadhwani’s departure underscores the extent of change in Adobe’s upper ranks.

The leadership reshuffle comes as Adobe continues to pursue an AI-driven transformation across its product portfolio. The company is working to scale AI-enabled offerings and enhance customer-experience capabilities within its creative and enterprise software businesses.

With Chakravarthy designated as the next chief executive and Narayen moving to executive chair, Adobe is positioning its governance and management to oversee this push in AI and customer experience over the coming years, leading up to and beyond the December 1, 2026 transition date.