Product lead Ashraf Alkarmi is taking over as CEO, handing his role to Chrome’s Mike Torres.
File storage platform Dropbox founder Drew Houston is stepping down as CEO after 19 years in the role, handing over the reigns to company senior vice-president of core products Ashraf Alkarmi.
Houston and Alkarmi will head the company as co-CEOs for a transitionary period, following which Houston will take up the role of executive chairperson, and Alkarmi, the sole CEO.
“Our business is in a stronger position than it’s been in years, and a lot of that is because of Ashraf,” Houston said, explaining the company’s decision behind the move.
Dropbox announced the transition on 21 May in a security filing with the US government. Shares at the company fell nearly 3.5pc at market close yesterday (26 May), following a wider announcement.
