Can Dropbox's new CEO save it from stagnation?

Just 2.6% of Dropbox users actually pay for the service.

May 27, 2026 1:07 PM 2 min read

Can Dropbox's new CEO save it from stagnation? — Ashraf Alkarmi (left) will serve as co-CEO alongside outgoing Drew Houston (right) before becoming its sole head. Image credit: Dropbox

Dropbox is welcoming a new CEO for the first time in its 19-year history, promoting its product chief to the hot seat as it faces flatlining revenue and struggles to grow its paying user base.

Founder Drew Houston announced on 26 May he was stepping down as CEO, sharing the role with successor Ashraf Alkarmi effective immediately, until the undisclosed end of a transition period. Houston will stay on as executive chairman.

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Noah Bovenizer

Noah Bovenizer is a reporter with The Stack. He previously covered the transportation sector for Global Data. He has a first class degree in journalism and has also worked as a newsreader for Gaydio.