Former Macromedia CEO retires from Adobe

Adobe announced today that Stephen Elop, president of worldwide field operations, will retire from his job in December of this year. Previously, Elop was chief executive officer of Macromedia, which was acquired by Adobe last year.

"Stephen has been a tireless advocate committed to the successful integration of Macromedia and Adobe," said Adobe CEO Bruce Chizen in a prepared statement. However, looking beyond a successful integration, the responsibilities of leading Adobe’s worldwide field operations are not aligned with his longer-term career goals."

Adobe today also announced the financial results of its second financial quarter. Net income came in on target at $123.1 million, while revenues $635.5 million, below the forecast of $640 to $670 million.