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The silhouette of Drew Houston, CEO and co-founder of Dropbox Inc., is seen walking on stage during an event in San Francisco.
Dropbox fell up to 10% during the opening on Friday after its announcement on Thursday that the operational director, Dennis Woodside, will come down in September.
The cloud services company reported strong second-quarter earnings after Thursday's bell, exceeding Wall Street's expectations in terms of revenue and earnings per share. But investors seem to react to the loss of a high-profile Silicon Valley executive. Woodside previously was a manager of Google and Motorola.