ADOBE NAMES ANIL CHAKRAVARTHY AS CEO, REPLACING SHANTANU NARAYEN

Summary from the TLDR Design newsletter

Adobe has named Anil Chakravarthy its next president and CEO, succeeding Shantanu Narayen on December 1 after his 18 years leading the company. The handover lands as fears of AI disrupting software makers push Adobe shares down 25% in 2024, 21% in 2025, and 18% this year. David Wadhwani, a widely tipped contender who ran the creativity and productivity business, is leaving alongside the announcement.