Dropbox CEO Drew Houston steps down after 19 years; Ashraf Alkarmi takes over as co-CEO
Dropbox $DBX co-founder Drew Houston is stepping down as CEO after 19 years. Ashraf Alkarmi, previously general manager of the core business and ex-Vimeo CPO, becomes co-CEO May 26, then sole CEO. Houston will be executive chairman. Source: CNBC
Dropbox $DBX co-founder and CEO Drew Houston is stepping down after 19 years leading the cloud storage company, marking the end of one of the longest tenures at the top of a major tech firm. According to CNBC, Ashraf Alkarmi has been named co-CEO effective May 26, 2026. After a transition period, Alkarmi will become sole chief executive while Houston moves to the role of executive chairman. Alkarmi joined Dropbox in November 2024 as general manager of the core business after serving as chief product officer at Vimeo from 2022 to 2024 and earlier roles at Amazon. Michael Torres, currently vice president of product for Google Chrome and a former Kindle leader at Amazon, will join Dropbox as chief product officer on July 7. Dropbox shares fell more than 3% Tuesday on the leadership news. The company carries roughly a $6 billion market value and reported revenue of $630 million in the quarter through March 31, up nearly 1% year over year after three straight quarters of declines. Source: CNBC