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Adobe CEO Steps Down Amidst AI Rival Concerns

3/13/2026

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Summary

Story summary

Shantanu Narayen, Adobe's CEO, will step down after a successor is appointed, with shares having fallen over 7%.
Narayen has led Adobe for 18 years, shifting to a subscription model boosting Photoshop and Illustrator.
Artificial intelligence (AI) rivals like Canva and Figma have raised concerns about Adobe's market position.
Despite a quarterly revenue report, investor concern about AI strategy contributed to a 23% decline in shares this year.

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Story summary

Shantanu Narayen, Adobe's CEO, will step down after a successor is appointed, with shares having fallen over 7%.
Narayen has led Adobe for 18 years, shifting to a subscription model boosting Photoshop and Illustrator.
Artificial intelligence (AI) rivals like Canva and Figma have raised concerns about Adobe's market position.
Despite a quarterly revenue report, investor concern about AI strategy contributed to a 23% decline in shares this year.