What's Going On With Dropbox Stock After Hours?

Dropbox Inc DBX shares are trading lower in Thursday's after-hours session after the company announced a management change.

What Happened: Dropbox said Timothy Young has given notice of his decision to resign as Dropbox president, effective Feb. 1.

Young will remain at the company until March 15 to ensure a smooth transition. Dropbox CEO and chair Andrew Houston will lead the team in the interim.

"I’m grateful to Timothy for all his contributions to Dropbox over the years and wish him all the best. We have a huge opportunity ahead of us to transform the way people work, and I’m excited to work closely with the team as we execute on our strategy for 2023," Houston said.

Dropbox is a provider of cloud-storage and content collaboration tools.

See Also: Netflix Q4 Results Screening: Shares Fast Forward On Revenue Beat, Subscriber Jump, Strong Forecast

DBX Price Action: Dropbox has a 52-week high of $25.81 and a 52-week low of $19.07.

The stock closed Thursday down 1.92% and shares are flat in after hours, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.