Dropbox appoints Ashraf Alkarmi as co-CEO alongside Andrew Houston

Dropbox Inc. (NASDAQ: DBX) appointed Ashraf Alkarmi as co-chief executive officer and board member, effective May 26, 2026, according to a company statement. Alkarmi will serve alongside current CEO Andrew Houston in a co-leadership structure.

Houston will remain as co-CEO during a transition period before moving to executive chairman, with Alkarmi continuing as sole CEO and board member. The company did not specify the duration of the transition period.

Alkarmi, 47, joined Dropbox in November 2024 as general manager of core operations. He previously served as chief product officer at Vimeo from 2022 to 2024 and held senior product roles at Amazon from 2018 to 2022. He also worked at Meta and founded PresAsk, an audience engagement platform.

Under his new role, Alkarmi will receive an annual base salary of $825,000 starting June 1, 2026, and remain eligible for cash bonuses targeting 100% of his base salary. He will also receive restricted stock units valued at $12.7 million, vesting over four years on quarterly schedules.

Separately, Dropbox appointed Michael Torres as chief product officer, effective July 7, 2026. Torres, 49, previously held executive product roles at Alphabet Inc. and Amazon, including vice president of product for Chrome and vice president and general manager for Kindle.

The appointments represent leadership changes as Dropbox continues operations in the cloud storage and collaboration market. The company stated the information in a regulatory filing.

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