San Jose, March 13 -- Shantanu Narayen steps down from the role of Chief Executive Officer of Adobe after a successor is appointed, but will remain as Chair of the company, the design software firm said in an official statement.

The announcement was made during the company's financial results for its first quarter FY2026 ended Feb. 27, 2026. Following the announcement, shares of Adobe listed on the NASDAQ Composite tumbled 7 per cent in extended trading.

In an exchange filing to Nasdaq, the company said Narayen, who has served as CEO of Adobe for eighteen years, has decided to transition from the role after the board appoints his successor.

"Shantanu Narayen, who has served as CEO of Adobe for eighteen years, has decided to transition ...