Adobe has named Anil Chakravarthy as its next chief executive officer, succeeding longtime CEO Shantanu Narayen, according to Bloomberg and CNBC. The company said Chakravarthy will take over on Dec. 1, with Narayen moving into the executive-chair role. The appointment puts a leader from Adobe’s customer-experience business in charge of the company at a difficult moment for software makers. Bloomberg described Chakravarthy as the president of Adobe’s customer experience business and the leader of its marketing and analytics software business. CNBC reported that he most recently served as president of customer experience orchestration and worldwide field operations. Chakravarthy will also join Adobe’s board, CNBC reported. Bloomberg said he joined Adobe in January 2020; CNBC said he came to the company nearly seven years ago after serving as CEO of enterprise data-management company Informatica. Narayen has led Adobe since 2007, Bloomberg reported. CNBC said he joined Adobe in 1998 and had served as the company’s head for 18 years. According to CNBC, Narayen announced earlier this year that he would step down from the CEO role and will work with Chakravarthy during the transition. The succession comes as Adobe faces competition tied to artificial intelligence. Bloomberg framed the move as placing Chakravarthy in charge of Adobe’s effort to compete with AI upstarts while maintaining its market position. CNBC reported that investors have worried AI could disrupt software makers, and that Adobe shares lost 25% in 2024, another 21% in 2025, and were down 18% so far in 2026. CNBC also reported Adobe shares fell about 2% in extended trading after the announcement. The leadership decision also coincides with the departure of another senior Adobe executive. CNBC reported that David Wadhwani, president of Adobe’s creativity and productivity business, will leave the company. CNBC said it had previously reported Wadhwani was viewed as a strong contender for the CEO job, in part because of his role in Adobe’s attempted acquisition of Figma, a deal the companies called off in 2023 because of regulatory hurdles. Wadhwani said in a LinkedIn post, according to CNBC, that he plans to explore and test company ideas. The provided reports do not say who will replace him or how Adobe will reorganize the business he led. For Adobe, the board’s choice elevates an executive tied to customer experience, marketing, analytics, and field operations. That does not by itself signal a product strategy shift, but it does define part of the operating profile of the next CEO: Chakravarthy takes over as Adobe faces the investor debate, cited by CNBC, over how AI may affect software makers. Who benefits: Chakravarthy gains the CEO role after leading major customer-experience operations inside Adobe. Narayen retains influence through the executive-chair role during the transition. Who's exposed: Adobe shareholders remain exposed to the execution of the CEO handoff and to the AI competition highlighted by Bloomberg and CNBC. Wadhwani’s departure leaves an open question because the provided items do not name a successor.