Adobe Announces Executive Retirement
24 March 2021 - 7:06AM
Business Wire
CFO John Murphy to Retire
Adobe (Nasdaq:ADBE) today announced that executive vice
president and CFO John Murphy intends to retire in 2021 to spend
more time with family and friends and focus on philanthropy. Murphy
will stay on as needed to ensure an orderly transition as the
company identifies a successor. Adobe will be conducting a search
and evaluating internal and external candidates.
“John has made significant contributions to Adobe for which I’m
deeply grateful and I wish him well as he pursues his passion for
philanthropy,” said Shantanu Narayen, president and CEO, Adobe.
Murphy and the entire Finance and Operations organization have
played an instrumental role in Adobe’s growth. During his tenure,
Adobe’s revenue grew from over $7 billion in 2017 to over $12
billion in 2020. The company successfully acquired and integrated
several leading technology companies, including Magento, Marketo,
Allegorithmic, and most recently, Workfront. Murphy oversaw a
successful debt issuance program in January 2020.
A graduate of the University of Southern California, Murphy
serves on the Board of the USC Marshall School of Business. He is
an advocate for advancing educational opportunities for inner-city
youth and serves as a sponsor and mentor to diverse and minority
executives.
Coincident with this announcement today, Adobe announced record
Q1 revenue and raised its annual targets for FY21.
About Adobe
Adobe is changing the world through digital experiences. For
more information, visit www.adobe.com.
© 2021 Adobe. All rights reserved. Adobe and the Adobe logo are
either registered trademarks or trademarks of Adobe in the United
States and/or other countries. All other trademarks are the
property of their respective owners.
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Public relations contact Stacy Martinet Adobe
adobepr@adobe.com
Investor relations contact Jonathan Vaas Adobe ir@adobe.com
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