Adobe stock is not reacting well to the planned departure of longtime CEO Shantanu Narayen

Shares in the preeminent graphics software company Adobe Inc. (Nasdaq: ADBE) are dropping significantly in premarket trading this morning following the company’s Q1 2026 earnings results.

Yet it’s not the earnings themselves that are driving ADBE stock lower. It’s an announcement from the company’s CEO, Shantanu Narayen, who said he plans to exit the role he has held for over 18 years. Here’s what you need to know:

What’s happened?

On Thursday, Adobe announced the results of its first quarter for fiscal 2026.