Adobe Taps Anil Chakravarthy as New CEO to Steer AI-Driven Growth Amid Stock Struggles
11 Sources
[1]
Adobe shares slip as Q4 revenue guidance falls short despite a Q3 beat
Adobe shares slip as Q4 revenue guidance falls short despite a Q3 beat Shares in Adobe Inc. fell more than 1% in after-hours trading today after a third-quarter beat from the creative software company came with a fourth-quarter revenue forecast whose midpoint fell below analyst expectations. For
[2]
Will Adobe's New CEO Be Able to Pull the Stock Out of Its Slump?
Get personalized, AI-powered answers built on 27+ years of trusted expertise. After a yearslong slump for Adobe's stock, can a new CEO drive a comeback? The creative software giant late yesterday named Anil Chakravarthy its new CEO starting in December, ending months of speculation about who
[3]
Chakravarthy to Log into Adobe as Next President & CEO
Adobe has named Indian-origin Anil Chakravarthy as its next president and CEO. He will succeed long-time chief Shantanu Narayen, who led the software giant for 18 years. Set to take charge from December 1, Chakravarthy joins the ranks of prominent Indian executives at the helm of global technology
[4]
Adobe Taps Insider Anil Chakravarthy to Lead Its High-Stakes AI Push - Adobe (NASDAQ:ADBE)
Adobe Inc. (NASDAQ:ADBE) said Thursday that Anil Chakravarthy will become president and CEO, effective Dec. 1. Longtime CEO Shantanu Narayen will transition to executive chair. Chakravarthy, who will also join Adobe's board, currently leads the company's Customer Experience Orchestration business
[5]
From IIT Varanasi to Silicon Valley peak: Who is Adobe's newly appointed CEO Anil Chakravarthy?
Adobe has appointed Anil Chakravarthy as its new CEO, succeeding Shantanu Narayen, who will become executive chair after more than 18 years at the helm. Chakravarthy will take over on December 1. Adobe has named Anil Chakravarthy as its new president and chief executive officer (CEO), succeeding
[6]
Adobe Elevates Anil Chakravarthy to CEO Role, Shantanu Narayen to Become Executive Chair
Adobe's opportunity ahead is limitless with our track record in creating new market categories and world-class products. Anil is an experienced transformational leader who leads with values, integrity and a deep knowledge of our business. Adobe announced that Anil Chakravarthy, president of
[7]
Adobe ends an 18-year era as AI pressure mounts
Adobe is handing over control to a new CEO after the current CEO spent 18 years in the role, as artificial intelligence is set to disrupt the software company that powers Photoshop and Creative Cloud. Adobe (ADBE) is undergoing one of its largest leadership overhauls ever at a particularly
[8]
Adobe Q3 FY2026 slides: AI revenue soars, stock falls on caution By Investing.com
Adobe (NASDAQ:ADBE) presented its fiscal third-quarter 2026 results on September 10, 2026, reporting revenue of $6.76 billion and non-GAAP earnings per share of $6.13, both exceeding analyst expectations. Despite the beat and raised full-year guidance, shares fell 2.14% in after-hours trading to
[9]
Earnings call transcript: Adobe tops Q3 2026 estimates but shares fall By Investing.com
Adobe reported higher-than-expected fiscal third-quarter results, with non-GAAP earnings of $6.13 a share on revenue of $6.76 billion, both slightly ahead of Wall Street forecasts. Even so, the stock fell 2.14% in after-hours trading to $243.50, extending a regular-session decline of 2.32%, as
[10]
Adobe beats third-quarter revenue estimates on AI product demand
Sept 10 (Reuters) - Adobe beat Wall Street estimates for third-quarter revenue on Thursday, as demand for its AI-integrated products and tools continued to grow. The company reported revenue of $6.76 billion for the quarter, compared with analysts' average estimate of $6.70 billion, according to
[11]
Adobe Names Anil Chakravarthy as Chief Executive Amid AI Transformation
Adobe said its new chief executive will be Anil Chakravarthy, who has led the company's customer experience arm for the past six years. Chakravarthy will step in on Dec. 1, succeeding Shantanu Narayen, who disclosed his plans in March to step down after nearly two decades. Chakravarthy has led
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Adobe has appointed Anil Chakravarthy as its new CEO, effective December 1, succeeding Shantanu Narayen who will transition to executive chair after 18 years at the helm. The leadership change comes as Adobe faces mounting pressure from AI disruption, with shares down 18.6% year-to-date despite reporting record Q3 revenue of $6.76 billion and AI-first products generating over $650 million in annualized revenue.
Adobe Announces Leadership Transition Amid AI-Driven Era
Adobe has named Anil Chakravarthy as its new CEO, effective December 1, ending months of speculation about who would succeed Shantanu Narayen
2
. The announcement came as Narayen, who led the creative software giant for 18 years, transitions to executive chair3
. Chakravarthy, who currently serves as president of Adobe's Customer Experience Orchestration business and worldwide field operations, will also join the company's board4
. Adobe's board unanimously selected Chakravarthy after what lead independent director Frank Calderoni described as a rigorous selection process4
. Narayen expressed confidence that Chakravarthy is the right person to lead Adobe's growth in an AI-driven era and will work closely with him during the transition1
.
Source: Benzinga
Chakravarthy's Background and Leadership Credentials
Chakravarthy brings extensive technology industry experience to his new role as CEO. He joined Adobe in January 2020 from Informatica, where he served as CEO for four years, leading the global enterprise cloud data management firm
3
. Before Informatica, he held executive roles at Symantec, VeriSign, and McKinsey & Company5
. An alumnus of IIT Varanasi, Chakravarthy holds a Bachelor of Technology in Computer Science and Engineering from the Indian Institute of Technology, along with a Master of Science and Ph.D from MIT5
. During his tenure at Adobe, Chakravarthy has focused on leveraging AI to drive the $113 billion company's comprehensive enterprise software offerings3
. He led development on interconnected, agentic software platforms such as Adobe CX Enterprise, GenStudio, and Brand Visibility, while also overseeing the acquisition and integration of enterprise software platforms Workfront and Semrush3
.Stock Performance and Market Reaction to CEO Appointment
The initial market response to Chakravarthy's appointment proved challenging for Adobe's stock performance. Shares fell more than 1% in after-hours trading following the announcement
1
, and were down 4% in premarket trading the following day2
. Adobe shares have struggled throughout the year, losing roughly 20% of their value since the start of the year and falling 18.6% year-to-date2
3
. Analysts at Jefferies noted that Chakravarthy was not who many expected for the role, with speculation pointing to 19-year veteran David Wadhwani, who left shortly after the announcement2
. Jefferies analysts suggested that given Chakravarthy's background in customer experience, he could be well tuned to the needs of Adobe's large enterprise clients, though they expect organizational changes as he reshapes the company2
.
Source: SiliconANGLE
Record Q3 Results and AI-First Product Growth
Despite leadership transition concerns, Adobe reported strong Q3 financial results. For the quarter ended August 28, Adobe delivered adjusted earnings of $6.13 per share, up from $5.31 in the same quarter of the previous year, on record revenue of $6.76 billion, up 13% year-over-year
1
. These figures beat analyst expectations of $6.08 per share on revenue of $6.69 billion1
. Executives revealed that annualized revenue from Adobe's AI-first products has passed $650 million after growing more than 150% in a year1
. Monthly active users across its creativity and productivity apps topped 1 billion during the quarter, with creative freemium users alone numbering more than 100 million, up over 70%1
. Operating cash flow of $2.52 billion marked a third-quarter record1
.Related Stories
Q4 Revenue Guidance Concerns and Future Outlook
The positive Q3 results came with a caveat that dampened investor enthusiasm. Adobe's Q4 revenue guidance fell short of analyst expectations, with the company forecasting revenue of $6.80 billion to $6.85 billion, while analysts had been looking for $6.85 billion
1
. Only the top of Adobe's sales range reaches the consensus estimate1
. The company expects adjusted earnings of $6.30 to $6.35 per share for Q41
. For the full year, Adobe raised its revenue target to $26.576 billion to $26.626 billion, from $26.50 billion to $26.60 billion previously, and forecast adjusted earnings at $24.45 to $24.50 per share1
. Adobe maintained its target for 10.2% growth in total annualized recurring revenue1
.Strategic AI Partnerships and Innovation Hub Expansion
Adobe has been aggressively pursuing AI-powered innovation through strategic partnerships with technology giants. At its annual summit in Las Vegas in April, the company sealed extensive agentic AI partnerships with Microsoft and Google
3
. Adobe's marketing intelligence is now directly integrated into Microsoft 365 workflows, while Google's advanced AI models have been integrated into Adobe's creative tools like Firefly, Photoshop, Adobe Express, and Premiere Pro3
. The company is also collaborating with OpenAI to test ads in ChatGPT and has introduced Adobe Photoshop, Adobe Express, and Acrobat Apps for ChatGPT to the platform's 800 million weekly users3
. India has emerged as a critical innovation hub for Adobe, with nearly a third of the company's global innovation, including newer Firefly AI capabilities, currently powered by teams based in the country, where Adobe employs around 8,000 people3
.
Source: Market Screener
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