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Home / Business / Dropbox falls on announcement of COO’s departure

Dropbox falls on announcement of COO’s departure



  The silhouette of Drew Houston, CEO and co-founder of Dropbox Inc., is seen walking on stage during an event in San Francisco.

David Paul Morris | Bloomberg | Getty Images

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.


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