Adobe board weighs internal and outside candidates as it narrows its next CEO search

Adobe is moving closer to naming a successor to longtime chief executive Shantanu Narayen, with its CEO search now focused on both internal and external candidates, according to a report published in early June. The process comes after Narayen, who has led Adobe for 18 years, said he would transition out of the CEO role once the board selects a new chief executive.

In a March 12 announcement filed with the U.S. Securities and Exchange Commission, Adobe said Narayen has decided to transition from his CEO position after a successor is appointed, while remaining as chair of the board. The company also said the board has appointed Frank Calderoni, Adobe’s lead independent director, to chair a special committee that will direct the search and consider both internal and external candidates.

Narayen reinforced that framing in an employee memo that described the change as part of succession planning tied to Adobe’s “AI-driven era” strategy. He said he would work with Calderoni and the board over the coming months to identify his successor and support a smooth transition, and he stayed in place as chair rather than exiting completely.

As Adobe’s search continues, Bloomberg Law reported on June 3 that two internal executives are leading contenders: David Wadhwani and Anil Chakravarthy, who head two of Adobe’s main business units. The report also said Adobe has hired the executive search firm Heidrick & Struggles to look for outside candidates, particularly those with relevant experience for the company’s artificial intelligence push.

For context on why the two internal candidates are prominent, Adobe describes Wadhwani as president of its Creativity and Productivity business, overseeing products including Photoshop, Acrobat, Express, Firefly, Illustrator, Lightroom and Premiere. Adobe says Wadhwani is responsible for product management, product marketing, engineering, strategic partnerships, customer support and go-to-market across geographies.

Adobe describes Chakravarthy as president of its Customer Experience Orchestration business, with responsibility for the company’s global field operations and for helping brands build personalized customer experiences at scale. In company materials, Adobe links Chakravarthy’s remit to strategy, engineering, product management and product marketing for the customer experience platform.

While investors and employees will likely watch for details on the timeline and finalists, Adobe has not publicly disclosed when it expects to conclude the selection, nor has it named specific outside candidates. Beyond the internal names cited in early June reporting and the fact that an external search firm was engaged, the company’s communications so far focus on the governance structure and the board’s commitment to reviewing both internal and external leadership options.

For what to watch next, Adobe’s next leadership update will likely come through a formal announcement once the board appoints a new CEO, along with messaging about how the company plans to sustain its strategy in the AI era. The choice will also be interpreted through the lens of whether it preserves momentum in Adobe’s core creative and enterprise offerings while adapting product and platform priorities to a fast-moving generative AI market.