MAM
Bajaj Finserv employees pledge Rs 10.15 crore to PM-CARES Fund to combat Covid-19
Strengthening the fight against Covid-19, employees of Bajaj Finserv and its subsidiaries have voluntarily decided to contribute a part of their salary to the PM-CARES fund. The collective effort of around 32,000 employees resulted in an amount of Rs 5,07,66,716/- (Rupees five crore seven lakh sixty-six thousand seven hundred sixteen) being contributed by employees of Bajaj Holdings & Investments and Bajaj Finserv, along with its subsidiaries – Bajaj Finance, Bajaj Housing Finance, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Bajaj Finserv Direct and Bajaj Finserv Health.
The Bajaj Finserv companies have decided to match this contribution, thereby doubling the amount to Rs 10,15,33,432/-, (Rupees ten crore fifteen lakh thirty-three thousand four hundred thirty-two) which will be donated to the PM-CARES fund.
The Bajaj Group had earlier pledged Rs 100 crore in the fight against Covid-19, of which close to 40 crore is already operational through various projects in multiple geographies. The group along with its partners, is providing cooked meals daily to more than 40,000 homeless and underprivileged people in Pune and its immediate surrounding areas. The group has also provided more than 12,000 PPE to the government hospitals in Uttarakhand, Pune and it’s other operational areas, and is working towards procuring more. In addition to safety equipment, the group is actively working towards upgrading rural healthcare facilities, providing ventilators to multiple hospitals and raising awareness in rural pockets to fight Covid-19.
Commenting on the initiative Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv said “It is a matter of great pride for us that our employees have voluntarily come forward to donate a part of their salary to the PM-CARES Fund. We remain committed in the fight against Covid-19 and are supporting the government and communities in tackling this pandemic.”
Brands
Adobe CEO Shantanu Narayen to step down after 18 years in role
Board begins CEO search as Narayen prepares to move to chair role
SAN JOSE: After nearly two decades at the helm, Adobe’s long-serving chief executive Shantanu Narayen is preparing to pass the baton.
The company announced that Narayen will transition from his role as chief executive officer once a successor is appointed, ending an 18-year run that reshaped Adobe from a boxed software seller into a global cloud and AI powerhouse. He will remain chair of the board following the leadership transition.
Adobe’s board has formed a special committee to oversee the succession process, led by lead independent director Frank Calderoni. The committee will evaluate both internal and external candidates.
“Shantanu’s leadership has been instrumental in Adobe’s transformation and in positioning the company for the AI-driven era,” Calderoni said in a statement. “As we begin the next phase of succession planning, our focus is on identifying the right leader for the company’s next chapter while ensuring a smooth transition.”
In a note to employees, Narayen described the moment not as a farewell but as a pause for reflection after a long journey with the company.
“I love Adobe and the privilege of leading it has been the greatest honour of my career,” he wrote, adding that he will continue to work closely with the board over the coming months to ensure a seamless leadership change.
Tributes from the technology industry quickly followed the announcement. Microsoft chairman and chief executive officer Satya Nadella congratulated Narayen on what he described as a “legendary run” at Adobe.
“Congrats Shantanu, on a legendary run at Adobe! You’ve built one of the most important software companies in the world, and expanded what’s possible for creators, entrepreneurs, and brands everywhere,” Nadella wrote on LinkedIn.
“What has always stood out to me is the empathy you’ve brought to the creative process and the example you’ve set as a leader. Grateful for your friendship, mentorship, and for all you’ve done for Adobe and for our industry.”
Narayen’s career at Adobe spans nearly three decades. He joined the company in 1998 as vice president and rose steadily through the ranks before becoming chief executive officer in December 2007.
During that time, he orchestrated one of the most significant reinventions in the software industry. In 2013, Adobe made the bold decision to abandon traditional boxed software sales and move its flagship creative tools such as Photoshop to a subscription-based Creative Cloud model. The shift initially rattled investors but ultimately transformed Adobe into a predictable recurring revenue business and a case study in digital reinvention.
Narayen also pushed Adobe beyond creative tools into the world of marketing technology and data-driven customer experience, spearheading acquisitions such as Omniture and Marketo. Those moves helped build Adobe’s digital experience division and broaden its reach far beyond designers and photographers.
The numbers tell the story of that transformation. When Narayen took over in 2007, Adobe generated roughly $3 billion in annual revenue. Today the company reports more than $25 billion. Over the same period, its workforce expanded from around 3,000 employees to more than 30,000.
In recent years, Narayen has steered Adobe into the generative AI era with the launch of Adobe Firefly, aiming to keep the company ahead in a rapidly evolving creative technology landscape.
Born in Hyderabad in 1963, Narayen studied electronics and communication engineering at Osmania University before moving to the United States for a master’s degree in computer science from Bowling Green State University. He later earned an MBA from the Haas School of Business at the University of California, Berkeley.
Widely regarded as one of Silicon Valley’s most steady and effective leaders, Narayen has earned multiple honours during his career, including India’s Padma Shri in 2019.
For Adobe, the upcoming leadership change marks the end of a defining chapter. For Narayen, however, the story is far from finished. As he told employees, the company’s next era of creativity, powered by AI and new digital workflows, is only just beginning.
