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Story summary
- Adobe shares fell more than 7% after news that Shantanu Narayen, Adobe Chief Executive Officer, will step down once a successor is named.
- Narayen led Adobe for 18 years, overseeing growth of Photoshop and Illustrator.
- Despite double-digit revenue growth, investor skepticism about AI investments has driven Adobe's shares down 22% this year.
- The company forecasts second-quarter revenue of $6.43–$6.48 billion and aims to balance AI innovation with traditional software models.
