Adobe CEO to Step Down in Face of Investor Concerns Over AI (3)

Adobe Inc. Chief Executive Officer Shantanu Narayen will resign from his position atop the creative software giant amid deep skepticism about the company’s ability to thrive in the AI era.

Narayen, who served as CEO for 18 years, will remain in the position until a successor has been appointed, Adobe said Thursday in a statement. The 62-year-old will stay on as board chairman.

The CEO change “adds questions around strategic continuity, capital allocation priorities and pace of innovation,” Grace Harmon, an analyst at Emarketer, said in an email. “Investors will likely focus on whether incoming ...