Adobe is trading 4.03% down at $274.22 after announcing Anil Chakravarthy will become president and CEO on December 1, 2026, replacing longtime leader Shantanu Narayen.
- David Wadhwani, head of Adobe’s creativity and productivity business, announced his departure.
- Investors are weighing leadership uncertainty ahead of Adobe’s September 10 earnings report.
- Software-sector strength following Snowflake’s earnings provides limited support, while company-specific leadership concerns are the clearer catalyst.