Adobe Announces Chief Financial Officer Changes, Effective October 18, 2021
October 01, 2021 at 08:35 am EDT
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Adobe announced the appointment of Dan Durn as chief financial officer, effective October 18, 2021. Durn will assume the CFO role from the company’s CFO John Murphy, who announced his retirement earlier in year 2021. Durn will report to the company’s president and CEO Shantanu Narayen and will oversee the company’s Accounting, Business Operations and Pricing, Financial Planning and Analysis, Financial Reporting, Investor Relations, Internal Audit, Payroll, Procurement, SEC Reporting, Tax, and Treasury functions. Durn joins the company from Applied Materials, where he has been CFO since 2017. He has extensive expertise in global strategy, financial planning and operations, and mergers and acquisitions, and decades of experience in the technology industry. Durn was previously executive vice president and CFO at NXP Semiconductors N.V. following its merger with Freescale Semiconductor. Before Freescale, Durn was CFO and executive vice president of finance and administration at GlobalFoundries, and served as managing director, head of mergers and acquisitions and strategy at Mubadala Technology Fund. Prior to that, Durn was vice president of mergers and acquisitions in the technology practice at Goldman Sachs & Company.
Adobe Inc. specializes in the development of software for content design, publication and visual distribution. Net sales break down by product family as follows:
- digital media software (73.3%): primarily creation, illustration, viewing, conversion and digital contents broadcasting;
- online marketing and business process management software (25.2%): web publishing, information security, business resources planning, document production management, application automation software, etc.;
- other (1.5%): software for high-definition printing, online training, etc.
Net sales break down by source of income between sales of subscriptions (94.2%), sales of services 3.4%; consulting, training, maintenance and technical support services) and sales of products (2.4%).
Net sales are distributed geographically as follows: the United States (53.9%), Americas (6.2%), Europe/Middle East/Africa (25.1%) and Asia/Pacific (14.8%).
ADOBE INC. 
