Adobe Systems Incorporated today announced its Board of Directors has appointed current president and chief operating officer Shantanu Narayen as its president and chief executive officer, effective December 1, 2007. Narayen will also join Adobe’s Board of Directors at that time. Narayen replaces Adobe CEO Bruce Chizen, who will serve the remainder of his term on Adobe’s Board of Directors through the Spring of 2008 and continue in a strategic advisory capacity through the end of fiscal year 2008.
“Bruce Chizen’s vision has helped transform Adobe from a company that was known mainly for its popular design products into one of the largest and most diversified software companies in the world,” said Chuck Geschke and John Warnock, Adobe’s chairmen of the Board of Directors, in the press release. “We thank him for his outstanding leadership and contributions to Adobe’s success during his entire 14 years at Adobe and the past seven as CEO.”
Narayen’s promotion reflects Adobe’s strategy to ensure a planned succession of the company’s senior leadership.
“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,” said Chizen, in the press release. “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.”
“I am honored to assume the leadership of Adobe and to continue to carry on the legacy of Bruce and our founders, John and Chuck,” said Narayen. “I look forward to continuing Adobe’s tradition of technology leadership and innovation, and helping the company achieve its next phase of growth.”
In his current role as president and COO, Narayen leads the company’s day-to-day global operations; sets Adobe’s long-term market strategies; and oversees all product research and development, worldwide sales, corporate strategy and investments, and corporate and product marketing. Together with Chizen, Narayen spearheaded the acquisition of Macromedia, Inc. in 2005, expanding Adobe’s software platform and solutions and strengthening the company’s presence in key markets ranging from video to enterprise software to mobile solutions.
Narayen joined Adobe in January 1998 as vice president and general manager of Adobe’s engineering technology group. In January 1999, he was promoted to senior vice president, worldwide products and in March 2001 he was promoted to executive vice president, worldwide product marketing and development. In January 2005, Narayen was promoted to president and chief operating officer. Prior to joining Adobe, Narayen co-founded Pictra Inc., a digital photo sharing software company, in 1996. Previously, he was director of desktop and collaboration products at Silicon Graphics Inc. and held various senior positions at Apple Inc.
Adobe announced today it expects to achieve results near the high end of its fourth quarter revenue target range of $860 million to $890 million. For fiscal year 2008, Adobe announced it is targeting annual revenue growth of approximately 13 percent.
The company plans to report its fourth quarter and fiscal 2007 year-end results on December 17, 2007 after the market closes.
Source: Adobe
Apple needs to buy Adobe and Intel for total dominance.
Just another CEO rat getting away from the sinking post real estate bubble recession ship that’s the US economy.
They all milked their respective companies and now that the hard work and lean times is upon them, they bail.
Rats, all of them.
Heck even our Steve Jobs may be considering retirement.
I have this feeling that someone ELSE is calling the hardware and software shots at Apple lately. Call it a feeling, like something is wrong.
When, oh when will Apple buy Adobe and slowly kill of the Windoze versions? Should have done it years ago. Still can do it.
Dare to dream.
Hmm…that’s promising. Maybe this will put them back on the right track!
Hopefully CS4 will be $99 and be fast and easy to install.
Just maybe
oh I almost forgot, hopefully they will follow Apple’s lead and have just 1 “Ultimate” version
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@ Stock Trader
So you’re bagging on Bruce? Tell me what else you know about him. Please, I can’t wait to hear this.
Shantanu Narayen? For a moment I thought it was Seetharaman Narayanan…
As an alternative to the bloatware that is PSP CS3, I’ve started experimenting with Pixelmator. It’s got real promise, and the Mac community might be smart to encourage its development.
http://www.pixelmator.com
(RG is not an investor or principal, just an interested user.)
@ Jim
If they only have one Ultimate version, it will be the Master Collection for $2,500. Sound good to you?
The installer, however, will still suck ass chunks.
So, give us the real scoop–is this a good thing? Tell it like it is…
I smell a RIF
As much as I hate Adobe and wish someone with vision would buy it out it’s not a good idea for Apple I think.
You only buy software when you need it and it’s new and unique and within a few years you are replacing it anyway. Why buy Adobes old junk when there is so much new stuff coming?
Adobe is bloatware/shovelware like Office. Something lighter and cheaper (or multiple somethings), will replace it soon just like Pages and various other alternatives are replacing Office. It’s just a matter of how long it takes Adobe to realise they should offer a cheaper, more flexible and more Mac-like program.
I don’t know – My perception is that Chizen was one of the more Mac friendly at Adobe, and IF that’s true, then that’s scary ’cause as some of you well know, this time last year we were all dissing him for ignoring the faithful. At this point all we can do is wait and see, but overall Adobe’s track record on the Mac vs. Windows home front ain’t great. It’s like we’re supposed to feel lucky we’re even still included.
You never know, the new guy maybe a real boon in this regard, helping to steer Adobe back to equal treatment of all supported platforms. Hope so…
The scoop isn’t mine to give. Or Stock Trader’s.
Please, everyone, use Pixelmator or something else and stop bitching about Photoshop. Those of us that use it professionally are getting tired of you.
Sounds like that time of the month for ChrissyOne. LOL
Boy, you’re cranky…
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Though, the anti-Adobe whining does get old after a while.
Cheers.
OMG – Finally. Bruce had no concept of how to deal with the Enterprise. Their IDP is a JOKE – great technology BUT NO CLUE how to sell it to the Enterprise. IMO – a great squandering of an opportunity. Their Professional Services is so dysfunctional that it is amazing that make any money. If it wasn’t for outsourcing their professional services to others – their entire IDP would flounder into oblivion.
Also – Adobe missed a great opp when EMC bought Documentum. If Adobe would have aquired that – it would be a whole new ballgame. Sure – CS is their bread and butter – but that will only last so long. Where is the future. As a shareholder – glad to see Bruce moving on.
I like Adobe, they have always been a stand-up company. I am a little worried that they didn’t acquire some of the Macromedia “taint” when they bought that company. Macromedia assimilated companies like necromongers and I don’t think they really were able to unify all those apps. They even owned Final Cut at one time. Plus I think there were some shenanigans going on with killing off competitors. Does anyone remember mTropolis?
I’m so over Adobe. Give me Aperture any day.
Aperture.
I have not tired Apples photo-correction software.
But have seen some screen captures.
Can it do half of what photoshop can provide?
Core Imaging and Core Animation are what make OSX a real contender for new imaging apps in the Apple market. Hence achieving slim non-bloated software.
I am looking at naked light thanks
Bring. Director. Back.
Aperture is a competitor to Lightroom (by Adobe) I believe.. its like an iPhoto pro.
Daring Fireball posted a survey done about Aperature vs Lightroom and there were far more Lightroom users than Aperature users.
What was interesting is that the number of Lightroom users was larger on the Mac than the PC.
With respect to Apple buying Adobe. Apple has 20 thousand employeed, about a quarter of that number work in t heir retail stores, of the remaining ~15 thousand, no more than half work developing new products.
Adobe has about 6 thousand employees. I do not know how many of them work on new products (vs sales, marketing, management etc), but that’s a huge influx of new people.
Who can say how well they would fit into the Apple culture.
And then there’s the big problem where do you put all these people? Do they continue to work where they are now? Apple keeps most of their production employees in Cupertino, CA. Are Adobe employees going to move? Where is Apple going to put them? How will Apple manage such a large influx of new people and will they be a good fit?
So buying Adobe would be far more of a logistical nightmare than many people seem to realize.
Lastly, why would Apple do this? What’s the upside?
Apple does not need to buy Adobe. They need to add draw, paint, text and effects to Aperture and cut the cord.
Flash and Photoshop are the only two holes in Apples software offering.
Please Steve, fill’em and let us be done with giant boxes of bloatware. Give us killer value packs like Final Cut Studio and Logic Studio.
Rock on Apple!
@ Jake
Sorry. When your job is to help people make that installer work, you kind of get your fill of Adobe-hating. And it seems Adobe is the second-most-hated company around here, so yeah, it gets old. I worked with really great people who loved the company but were stuck in bad situations, and it was kind of sad.
@ Peachpicker
Director never went anywhere. It’s still alive and reasonably well, and a new version is currently in alpha. And even though it is badly in need of an update, it is still the best way to create and deliver 3D on the web.
To all of you saying that so-and-so should make such-and-such an app or apps to replace Adobe CS — get real, please. You may have a point for non-professional users, but for those of us, as ChrissyOne said, who use it professionally, you don’t know what you’re talking about. To even think of Pages, as nice as it is for home users, at the same time as thinking about InDesign is just a joke. To think of Pixelmator or, worse, Gimp, for professional work instead of Photoshop… well, let’s just say that if you entertain that thought, then you’re not a pro. Period. That’s not to say that someone couldn’t eventually overturn Adobe for pros, that’s possible. But it’s not as easy as some of you seem to think. If you don’t understand this, then I just can’t help you, because you just don’t have the experience with the software required for you to understand.
@Chris ][
Amen, well said.
@ WindozeKiller,
Let’s see…the majority of Adobe’s sales and profits come from Windows…umm, yeah, let’s stop selling to them.
You’re such a muppet. Explains why you are posting here instead of running a company like Adobe I guess.
Chizen’s boardroom suicide was particularly gruesome. What with all the ninja staring on and all.