Shantanu Narayen Stepping Up As Adobe’s CEO
Amit Chowdhry | Monday November 12, 2007 | 1,032 views| Add a Comment
In the technology company sector, its rare to see high-profile executives step down when a company is doing very well. Steve Jobs was fired from Apple (temporarily) and Terry Semel was fired from Yahoo! because of pressure from shareholders and the media. However in the case of Adobe Systems Incorporated (NASDAQ:ADBE), Shatanu Narayen is battering up at the CEO plate while the company is continuously growing.Â
“Shantanu’s extensive knowledge of our products and platforms, customer experience and exceptional operational leadership make him the ideal choice to lead Adobe as CEO,” stated former CEO of Adobe, Bruce Chizen. “For me personally, the time is right for a transfer of leadership and I look forward to supporting Shantanu as he takes on his new responsibilities.”
Chizen and Narayen together were responsible for the acquisition of Macromedia in 2005 for $3.4 billion. Today Adobe Flash is the preferred technology for streaming video, especially demonstrated by YouTube.
Narayen will begin CEO duties on December 1, 2007. Chizen will serve on the Board of Directors until the end of fiscal 2008.
Information Source:
[1] Adobe press release
Image Credit: Adobe Executive Profile
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