Adobe CEO’s Departure and Enterprise Software Stress

The Saaspocalypse may have claimed another scalp! Adobe said Thursday its longtime CEO and chair, Shantanu Narayen, had decided to give up the job as soon as his replacement can be found. Less than two months ago, Adobe had given Narayen an annual grant of stock, to vest based on the company's stock performance 2028, suggesting the board wasn’t expecting the CEO to leave anytime soon.

Perhaps after 18 years at the company, and with AI roiling the software sector, Narayen decided enough was enough. (He follows out the door most recently Carl Eschenbach, CEO of another software firm Workday, whose cofounder Aneel Bhusri decided he wanted to take back the reins.)