Adobe ($ADBE) said Chief Financial Officer Dan Durn will leave the company on Monday to join Marvell Technology ($MRVL), adding another leadership transition as Adobe continues its search for a successor to CEO Shantanu Narayen. The announcement came alongside stronger-than-expected guidance, with Adobe forecasting fiscal third-quarter revenue of $6.67 billion to $6.72 billion and adjusted earnings of $6.05 to $6.10 per share, both above analyst estimates.
- Adobe CFO Dan Durn is departing to join Marvell Technology.
- Adobe is simultaneously searching for a new CEO after Shantanu Narayen announced plans to step down in March.
- Bloomberg previously reported that David Wadhwani and Anil Chakravarthy are leading internal CEO candidates.
- Adobe guided for Q3 revenue of $6.67 billion to $6.72 billion, above the $6.52 billion analyst consensus.
- The company forecast adjusted earnings of $6.05 to $6.10 per share, exceeding the $5.77 consensus estimate.
- Adobe shares fell about 5% in extended trading and are down roughly 37% year-to-date.
Relevant Companies
- Adobe ($ADBE) - Faces concurrent CFO and CEO succession transitions while executing its AI and software growth strategy.
- Marvell Technology ($MRVL) - Gains Adobe's departing CFO as it expands its semiconductor and AI infrastructure businesses.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
