Adobe Shares Fall After CEO Succession and Executive Departure
Yahoo Finance
Adobe's shares dropped 3.4% in pre-market trading following the announcement of Anil Chakravarthy as the new president and CEO, succeeding Shantanu Narayen. The leadership change comes amidst the departure of David Wadhwani, who was previously considered a potential CEO candidate. These developments occur as the company prepares for its fiscal third-quarter earnings report, and analysts adjust price targets, some expressing concerns about AI competition impacting Adobe's recurring revenue.
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