Dropbox Inc. added two women to its board of directors on Tuesday, the latest push by CEO Drew Houston to diversify leadership at the file-storage company.
Lisa Campbell, chief marketing officer at Autodesk Inc.
and Karen Peacock, chief operating officer at software firm Intercom, joined the 10-person board, giving it four women. The others are Meg Whitman, the former CEO at Hewlett Packard Enterprise Co.
and eBay Inc.
who is now running short-form video service startup Quibi, and former Secretary of State Condoleezza Rice. Rice joined the board in 2014, Whitman in 2017.
“Lisa and Karen are talented executives with deep expertise scaling SaaS [sofware-as-a-service] businesses. Building a world-class Board with diverse perspectives has always been our goal,” Houston said in a statement exclusively to MarketWatch. Campbell has spent 16 years at Autodesk in various leadership roles. Prior to joining Intercom, Peacock was senior vice president of small business at Intuit Corp.
Peacock told MarketWatch she’s excited to join Dropbox at a time it is transforming its business through a new desktop workspace and updates to its website and mobile app to combine files, work software and employee data. In June, Dropbox also announced strategic agreements with Slack Technologies Inc., Zoom Video Communications Inc.
, and Atlassian Corp.
, to help extend Dropbox’s software reach into popular workspace functions.
News of the appointments come amid a recent slide in Dropbox shares
The stock has tumbled 14% this year, including a significant drop Aug. 9, a day after it announced mixed second-quarter results. The company said revenue met expectations and paid-user additions beat some estimates, but average revenue per user was disappointing.
“All relevant forward-looking metrics for Dropbox were favorable this quarter,” Canaccord Genuity’s Richard Davis wrote in a note. “Ah, but the cup is 1/8th empty, and yes indeed Dropbox sinned against the Excel orthodoxy of unguided expectations. Specifically, ARPU didn’t advance as much as some hoped, while net additions beat some people’s expectations but fell below others and billings, which bounces around based on deal duration and currency fell 4% short of our forecast.”