MAM
Pankaj Vasani wins ICAI’s “chief financial officer of the year” award 2018
MUMBAI: Publicis Groupe’s Executive President & CFO, South Asia, Pankaj Vasani, has been awarded “CA CFO of the Year in the Media & Entertainment Sector” by the Institute of Chartered Accountants of India (ICAI) at the 12th ICAI’s Leaders & Business Excellence Awards held in Mumbai on 19 January.
Pankaj received his award from Shri. Vijay Goel, Hon’ble Union Minister of State for parliamentary Affairs, CA. Naveen Gupta – President ICAI, CA, Dhiraj K. Khandelwal – Chairman Committee for Members in Industry & Business, and other key officer bearers of ICAI.
The awards instituted by ICAI acknowledges the Chartered Accountants (CAs) in the industry who have demonstrated excellence in the way they conduct their profession, are exemplary role models in the industry, have created value to their company's stakeholders on a sustainable basis and are outstanding contributors to the society.
On receiving the award, Pankaj said, “I'm truly and honestly thrilled to be here today, and sincerely grateful to the entire jury for the unique distinction. I might have done well at my job, but this recognition accorded by the Institute, which I greatly appreciate and accept with all humility and deep gratitude, comes in consequence of a lot of other people's work. I, therefore, accept this award on behalf of my family and friends for always being there and encouraging me, my mentors for believing in me and all my colleagues who I’ve worked in the past and work with at the Publicis Groupe, who made this moment, happen. This award is a compliment, an inspiration and cognisance that I'm on my journey to become a better professional, and a person of greater social significance.”
The prestigious ICAI awards are given in various categories (i) CA Business Achiever (Chairman/CEO) (ii) CA Chief Financial Officer and (iii) CA Professional Achiever. The top five nominations in each category are short listed by the Nomination Committee, which then sends it to the Jury for final selection. The Jury consisting of eminent personalities from the Indian Industry, leading businessmen, representative of national trade bodies, regulators, academicians, heads of universities, past presidents of ICAI and other well-known personalities, then decides on the final winner of the awards. This year’s distinguished Jury was chaired by Shri Keki Mistry, Vice Chairman and CEO, HDFC.
The winners were chosen from various industries such as manufacturing sector, financial sector, services sector, information technology, media and entertainment sector, telecom sector, healthcare sector, public sector, infrastructure and construction.
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.
