Dropbox Founder Drew Houston Steps Down as CEO After 19 Years Amidst Rising Competition

Drew Houston, who co-founded Dropbox and grew it from a small Y Combinator project to a platform with over 700 million users, is stepping down as CEO. Ashraf Alkarmi, currently Dropbox’s head of product, will assume the role of co-CEO immediately. Houston will transition to executive chairman, with Alkarmi taking the lead after a handover period.