Adobe: Chizen Out, Narayen In, Sales Good (ADBE)

Long-time Adobe (ADBE) CEO Bruce Chizen will be replaced by former No. 2 Shantanu Narayen on Dec. 1. Why? We haven’t a clue. Meanwhile, the company said sales are strong: Q4 revenue will come in at the high end of its $860 million – $890 million target. This spring, Adobe released its biggest software title yet: Creative Suite 3, which integrated software from its 2005 acquisition of Macromedia, like the popular Flash animation/video software and Web-design app Dreamweaver. Reuters, Release

Update: An Adobe rep says Chizen — who is sticking around on Adobe’s board through next Spring — will still give a lunch keynote Wednesday at UBS’s technology conference in New York.

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