Dropbox founder Drew Houston is stepping down as CEO to become executive chairman

Ashraf Alkarmi, promoted from general manager, will serve as co-CEO before eventually becoming sole chief executive

Cheng Xin / Getty Images

Dropbox co-founder Drew Houston is transitioning out of the chief executive role he has held since founding the company, moving to executive chairman after an interim period sharing the co-CEO title with Ashraf Alkarmi, the company announced Tuesday.

Ashraf Alkarmi, who had served as general manager of Dropbox's core business, becomes co-CEO effective Tuesday alongside Houston. After a transition........

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