Adobe slides as CEO succession news collides with earnings week
-6.73% to $266.51 from $285.75
What moved ADBE
- Adobe said Anil Chakravarthy, currently president of its customer experience business, will become President and CEO effective December 1, succeeding Shantanu Narayen, who will become executive chair.
- Narayen has led Adobe since 2007; Chakravarthy joined Adobe after previously serving as CEO of enterprise data-management company Informatica.
- The leadership change lands just days before Adobe’s fiscal third-quarter earnings report, due September 10.
- Adobe shares have fallen roughly 18% so far in 2026 as investors weigh competitive pressure from AI tools on its creative-software business.
Sources: CNBC · Reuters · 24/7 Wall St.