Graphics software major Adobe Systems chief executive Bruce Chizen announced on Monday 12 November that he would step down as the head of the company on 1 December. Chizen will be replaced by the company''''s present president and chief operating officer Shantanu Narayen.
Chizen''''s spent nearly seven years at the helm of the media software company, notching up a number of great successes. Its software platforms - Acrobat for making PDF files, and Flash for displaying videos - are everywhere, owing to the rise of Web 2.0 companies like Google''''s YouTube and Yahoo''''s Flickr.
The CEO has opted to leave the company when the going is good. Third-quarter revenue is up 40 per cent from the previous year. Adobe expects revenue for the fourth quarter to be near the high end of the previously disclosed range of $860 million to $890 million. Besides, the company is targeting an overall revenue growth for fiscal 2008 to be about 13 per cent.
His role in leading Adobe through a $3.4 billion acquisition of Macromedia in 2005 gave Chizen a high profile in Silicon Valley. He is often asked to talk publicly about the future of software companies in the Internet age. Adobe''''s success - a paid software company thriving in an era when nearly all consumer software is free and supported by advertising - is commendable.
Adobe''''s future is now tied to Web 2.0 companies and technologies. The company is planning to launch a Web version of its popular photo-editing software Photoshop by the end of the year.