Management ChangeMay 26, 2026, 09:17 AM
Dropbox Appoints Ashraf Alkarmi Co-CEO; Andrew Houston to Executive Chairman
AI Summary
Dropbox, Inc. announced the appointment of Ashraf Alkarmi as Co-Chief Executive Officer and a member of the Board, effective May 26, 2026. He will serve alongside current CEO Andrew Houston during a transition period, after which Mr. Alkarmi will become sole CEO and Mr. Houston will move to Executive Chairman. Additionally, Michael Torres was appointed Chief Product Officer, effective July 7, 2026, bringing extensive product leadership experience.
Key Highlights
- Ashraf Alkarmi appointed Co-Chief Executive Officer and Board member, effective May 26, 2026.
- Andrew Houston will transition from Co-CEO to Executive Chairman after a smooth transition period.
- Mr. Alkarmi's annual base salary set at $825,000, effective June 1, 2026.
- He is eligible for an annual performance-based cash bonus target of 100% of his base salary.
- Mr. Alkarmi was granted restricted stock units (RSUs) valued at $12,656,250, vesting over four years.
- His severance agreement includes 100% base salary and 12 months health benefits for qualified termination.
- Michael Torres appointed Chief Product Officer, effective July 7, 2026.
Price Impact
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