Shantanu Narayen, Adobe's Indian-American CEO, to step down after 18-year stint

Shantanu Narayen, the Indian-American chief executive of Adobe, plans to step down after an 18-year tenure leading the software company. The announcement marks the end of a long leadership era for the firm known for its creative and document software.

Narayen, who became CEO in 2007, oversaw Adobe's transition from a traditional software licensing model to a cloud-based subscription service. Under his leadership, the company's revenue grew significantly, and its product suite expanded to include tools like Photoshop, Illustrator, and Acrobat.

Adobe's board will begin a search for a successor, with Narayen expected to remain in his role until a replacement is named. The company did not provide a specific timeline for the transition.

Narayen's departure comes as Adobe faces increased competition in the generative artificial intelligence space, with rivals like Canva and OpenAI introducing tools that challenge its creative software dominance.