Adobe CEO Shantanu Narayen plans to step down after 18 years

Adobe's long-time CEO has shared that he plans to step down. Shantanu Narayen has been the chief exec at the tech company for 18 years, a tenure where he led Adobe in the major shift to become a software-as-a-service provider. The exact timeline for his exit is still up in the air, as Narayen will depart when the board of directors names his successor. He will remain on the board as its chair after leaving the CEO post.

While Adobe was not the first to take the SaaS route, it was one of the first major tech operations to do so. Software such as Photoshop, Illustrator, Premiere and Lightroom from the brand have been mainstays in creative fields for years, so the launch of the Creative Suite subscription, which is now called Creative Cloud, was a pretty revolutionary change for its customers.

In an memo to employees ...