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Adobe CEO Shantanu Narayen plans to step down after 18 years

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Adobe's long-time CEO has shared that he plans to step down. Shantanu Narayen has been the chief exec at the tech company for 18 years, a tenure where he led Adobe in the major shift to become a software-as-a-service provider. The exact timeline for his exit is still up in the air, as Narayen will depart when the board of directors names his successor. He will remain on the board as its chair after leaving the CEO post. 

While Adobe was not the first to take the SaaS route, it was one of the first major tech operations to do so. Software such as Photoshop, Illustrator, Premiere and Lightroom from the brand have been mainstays in creative fields for years, so the launch of the Creative Suite subscription, which is now called Creative Cloud, was a pretty revolutionary change for its customers. 

In an memo to employees, Narayen reflected on his nearly two decades at the helm. Adobe has grown from about 3,000 employees to more than 30,000, while its financial performance has leapt, revenue skyrocketing from less than $1 billion to more than $25 billion. He also looked toward the future and the seemingly-inevitable presence of artificial intelligence. 

"The next era of creativity is being written right now — shaped by AI, by new workflows and by entirely new forms of expression," he wrote. "Adobe has never waited for the future to arrive. We’ve anticipated it. We’ve built it. And we’ve led it. What gives me the greatest confidence isn’t just our technology — it’s our people. Your ingenuity, resilience and commitment to customers are what will define this moment."

This article originally appeared on Engadget at https://ift.tt/WLvrk3N

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