Adobe Inc. (NASDAQ: ADBE) stock dropped sharply in premarket trading after the company announced that longtime CEO Shantanu Narayen will step down after a successor is appointed. The leadership transition surprised investors despite Adobe reporting strong fiscal first-quarter results. Adobe reported: • Revenue of $6.40 billion, beating the $6.28 billion estimate • Adjusted earnings of $6.06 per share, topping the $5.87 estimate The company reaffirmed its full-year revenue guidance of $25.9 billion to $26.1 billion and continues to see strong growth across its ecosystem. Adobe now has more than 850 million monthly active users across platforms including Acrobat, Creative Cloud, Express and Firefly. AI-powered tools such as Firefly and Adobe Express are also seeing rapid adoption, with Creative freemium accounts surpassing 80 million monthly users. However, investors appear focused on the uncertainty surrounding the CEO transition after Narayen’s 18-year tenure leading Adobe. ADB...