Dropbox CFO Timothy Regan to step down

Dec 10 (Reuters) - File hosting work supplier Dropbox said connected Wednesday its main fiscal serviceman Timothy Regan volition measurement ​down aft 5 years successful the relation and volition beryllium ‌succeeded by Ross Tennenbaum, a elder enforcement astatine taxation bundle institution Avalara.

The company's ‌shares fell much than 5% successful greeting trading.

Tennenbaum volition articulation Dropbox arsenic the institution ramps up concern successful artificial intelligence, including AI-powered instrumentality Dropbox Dash, which connects apps specified arsenic Google Workspace and Slack to ⁠help negociate files.

His assignment ‌as Dropbox CFO takes effect connected December 16, the institution said.

Tennenbaum is presently president astatine Avalara and ‍previously served arsenic its CFO.

Regan, who joined Dropbox successful 2016 arsenic main accounting officer, helped usher the institution done its 2018 archetypal nationalist offering earlier ​becoming CFO successful 2020.

He volition enactment connected arsenic a non-executive worker ‌of the institution done March 15, 2026.

The San Francisco, California-based institution said it expects its fourth-quarter and full-year results to beryllium successful enactment with the guidance scope it antecedently provided.

Dropbox expects fourth-quarter gross of $623 cardinal to $626 cardinal connected a changeless currency basis.

The institution besides ⁠raised the midpoint of its forecast ​for yearly gross connected a changeless currency ​basis by $18 million, bringing the midpoint to $2.51 cardinal from $2.49 billion.

In March, the Wall Street Journal reported that activistic ‍investor Half Moon ⁠Capital was pressuring Dropbox to scrap its dual-class structure, which gives CEO Drew Houston other voting power.

"We are continuing to measure ⁠the concern and program to talk with absorption erstwhile the particulate settles," a ‌spokesperson for Half Moon Capital said.

(Reporting by Anhata Rooprai ‌in Bengaluru; Editing by Tasim Zahid)