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Adobe CEO Narayen to Step Down After 18 Years
Shantanu Narayen will leave the post when a successor is found, but will stay on as chair of the board.
Mar. 13, 2026 at 4:26pm
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Adobe (ADBE) CEO Shantanu Narayen is stepping down after 18 years in the role, the company announced on Thursday in conjunction with its first quarter earnings report. Adobe stock fell more than % on the news. Narayen will leave the post when a successor is found but will stay on as chair of the board afterward. The company's board also appointed Frank Calderoni, lead independent director of Adobe, as chair of the special committee that will look for CEO candidates both inside and outside of the firm.
Why it matters
Narayen's departure marks the end of an era for Adobe, as he has been instrumental in transforming the company into a major player in the software and cloud computing industries. The search for a new CEO will be closely watched by investors and industry analysts as they assess Adobe's future direction and growth prospects.
The details
In an email to employees, Narayen said: "I love Adobe and the privilege of leading it has been the greatest honor of my career. I will ensure that I set up Adobe for its next decade of greatness with the right leader and executive team, in partnership with the Board, while continuing to deliver on our FY26 Must Wins." For the first quarter, Adobe saw earnings per share (EPS) of $6.06 on revenue of $6.39 billion, topping analysts' EPS and revenue estimates. The company also forecast revenue of $6.43 billion to $6.48 billion for the second quarter, exceeding expectations.
- On Thursday, Adobe announced Narayen's departure.
- Narayen will leave the post when a successor is found.
The players
Shantanu Narayen
The outgoing CEO of Adobe, who has led the company for 18 years.
Frank Calderoni
The lead independent director of Adobe, who has been appointed as chair of the special committee that will look for CEO candidates.
Adobe
A major software and cloud computing company that is undergoing a leadership transition.
What they’re saying
“I love Adobe and the privilege of leading it has been the greatest honor of my career. I will ensure that I set up Adobe for its next decade of greatness with the right leader and executive team, in partnership with the Board, while continuing to deliver on our FY26 Must Wins.”
— Shantanu Narayen, Outgoing CEO of Adobe (Email to employees)
What’s next
Adobe's board has appointed a special committee to search for a new CEO, both internally and externally. The company will need to find a successor to Narayen and ensure a smooth transition of leadership.
The takeaway
Narayen's departure marks the end of an era for Adobe, as he has been instrumental in transforming the company into a major player in the software and cloud computing industries. The search for a new CEO will be closely watched by investors and industry analysts as they assess Adobe's future direction and growth prospects.
