Adobe Names Anil Chakravarthy CEO But AI Fears Are Impacting the Stock

Adobe has appointed Anil Chakravarthy as its new president and CEO, effective December 1, 2025, succeeding Shantanu Narayen after 18 years at the helm. Narayen will transition to an executive chair role to support Chakravarthy during the handover. Chakravarthy previously led Adobe's customer experience orchestration unit and worldwide field operations, joining Adobe in 2018 after his tenure as chief executive of Informatica.

He brings a strong background in transforming businesses and deep knowledge of Adobe's operations. In a statement, Narayen expressed excitement about working with Chakravarthy and the leadership team. Chakravarthy himself cited the opportunity to collaborate with Narayen and the leadership team as a key factor in accepting the position.

Meanwhile, David Wadhwani, who led Adobe's creativity and productivity business for five years, is departing. Chakravarthy's appointment arrives amid concerns over Adobe's stock performance, which has faced a 25% decline in 2024 and an additional 21% drop in 2025. The stock has also fallen 18% so far in 2026, reflecting broader software stock woes driven by AI fears.

As the market grapples with potential disruptions from generative AI tools, Adobe's success will hinge on demonstrating that its AI offerings can outperform competitors in the coming year.