Adobe shares crash as CEO Narayen resigns after over 18 years

Shares of Adobe crashed in premarket trading on Friday after the company announced that CEO Shantanu Narayen will step down after more than 18 years in the role. The stock of the US-based firm fell nearly 9% in early trading, reflecting concerns about leadership continuity. Meanwhile, analysts at Morgan Stanley said the timing of Narayen's exit could heighten investor anxiety.