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Dropbox CEO Drew Houston Steps Down, Revenue Beats Forecast

5/26/2026

Summary

Story summary

Dropbox co-founder and chief executive Drew Houston announced on May 26 2026 he will step down as CEO and become executive chairman.
He will share the chief executive role with Ashraf Alkarmi, promoted to co-CEO and slated to become sole CEO later.
Dropbox shares fell nearly 2% after the announcement, extending a year-to-date decline of more than 3%.
Q1 revenue was $629.5 million, topping the $620.6 million forecast, with over 18 million paying users.

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Story summary

Dropbox co-founder and chief executive Drew Houston announced on May 26 2026 he will step down as CEO and become executive chairman.
He will share the chief executive role with Ashraf Alkarmi, promoted to co-CEO and slated to become sole CEO later.
Dropbox shares fell nearly 2% after the announcement, extending a year-to-date decline of more than 3%.
Q1 revenue was $629.5 million, topping the $620.6 million forecast, with over 18 million paying users.