Software firm Adobe has announced that Shantanu Narayen, who has served as CEO of the company for 18 years, has decided to transition from his position as CEO after a successor has been appointed.
Adobe develops tools for digital creativity, document management and marketing, used by professionals and businesses.
In a statement, the company says Narayen will remain as chairperson of the board.
The board of directors has appointed Frank Calderoni, lead independent director of Adobe, as chairperson to the special committee to direct the process that will consider both internal and external candidates.
“On behalf of the board, I want to recognise Shantanu’s contributions as CEO and architect of Adobe’s transformation over the past 18 years, and for positioning Adobe for success in the AI-driven era," says Calderoni.
“As we take the next step in succession planning, we are focused on selecting the right leader for this next exciting chapter of the company’s growth and are grateful for Shantanu’s continued leadership as CEO to ensure a smooth transition.”
In an e-mail to employees, Narayen says: “I want to share with all of you that I have informed the board of my decision to transition from my role as CEO of Adobe after over 18 years in the job (and the earnings call that I am about to conduct will be my 100th at the greatest company on the planet).
“Over the coming months, I will be working with Frank Calderoni, our lead director, and the board of directors to identify my successor and ensure a smooth transition.
“This is not a goodbye by any means but a time for reflection. 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.”
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