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Adobe Dives 6.5% on Surprise CEO Shake-Up and Creative Chief Exit

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The Story

News Summary

  • Adobe dropped 6.5% after announcing digital experience chief Anil Chakravarthy will succeed CEO Shantanu Narayen in December.
  • Concurrently, creative division head David Wadhwani, overseeing 75% of revenue, will depart.
  • The abrupt executive shake-up intensifies investor concern over mounting AI competition and looming structural changes ahead of earnings.
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US100 price history

29368.44 +18.07% over the displayed period

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