Adobe Inc.

Adobe’s management team is stable, experienced, and aligned with shareholders. CEO Shantanu Narayen has led Adobe since 2007, steering the critical shift from boxed software to the cloud/subscription model. He and founder John Warnock (Chairman) have a long-term vision. The CFO (Dan Durn) and finance team also have deep tenure.

Management’s execution has been very strong: Adobe’s margins and cash flows have expanded under their watch. They have innovated continuously (e.g. integrating AI across products, launching Adobe Express to capture new user segments) and navigated competition successfully.

The recent shareholder-friendly capital return program indicates confidence and discipline: as CFO Durn stated, Adobe is “special,… with the profitability and cash flows to drive growth and invest in innovation while returning significant capital to our shareholders”.

There are no red flags in governance – the company is incorporated in the U.S. and subject to strong oversight. On balance, the management’s long track record and vision-for-product development strongly align with shareholder interests.