Dropbox Appoints Ashraf Alkarmi as Co-Chief Executive Officer

Dropbox, Inc. announced a significant leadership transition. Effective May 26, 2026, Ashraf Alkarmi, previously General Manager of Core, has been appointed Co-Chief Executive Officer, serving alongside current CEO Andrew Houston. Following a transition period, Mr. Houston is expected to assume the role of Executive Chairman, with Mr. Alkarmi continuing as the sole CEO. This appointment is accompanied by a new compensation package for Mr. Alkarmi, including an annual base salary of $825,000, eligibility for a 100% target bonus, and restricted stock units valued at $12,656,250, vesting over four years. Additionally, Michael Torres has been appointed Chief Product Officer, effective July 7, 2026. The company also anticipates its second quarter and fiscal year 2026 financial results to meet or exceed previous guidance. This filing also includes a blog post detailing these leadership changes and expressing confidence in the company's future direction, particularly in leveraging AI to enhance customer experience.