Dropbox names Ashraf Alkarmi CEO as founder Drew Houston moves to executive chairman

Dropbox has announced that founder Drew Houston will step down as chief executive after a transition period, with Ashraf Alkarmi taking over first as co-CEO before becoming sole CEO and Houston moving into the role of executive chairman. The company said the handoff is part of a planned leadership succession rather than a sudden departure, according to Dropbox’s own announcement and regulatory filing.

The move marks a major shift for a company that Houston co-founded in 2007 and has led since its early days. Dropbox said Alkarmi will share the top job with Houston during the transition, giving him time to train and then assume full control, a structure that the company framed as a deliberate handover designed to preserve continuity.