Dennis Woodside is leaving Motorola Mobility for the CEO position over file sharing service Dropbox.
It was announced late last month that Lenovo would be purchasing Motorola Mobility’s hardware division from Google for $2.91 billion. During a conference call with the press shortly after the announcement, TechnoBuffalo asked Lenovo CEO Yang Yanqing what the plans were for Motorola’s current executives. The answer was fairly evasive to the exact plans outside of assisting with the transition of ownership.
Obviously we now know why there was no clear cut answer.
According to the report from The Wall Street Journal, Woodside will take over as the CEO of Dropbox which just received $350 million in a new round of financing that values the company at $10 billion.
This is a similar move many startups have taken in Silicon Valley over the past decade where the founders end up bringing in veteran CEOs to help them steer the ship through the treacherous waters of growth. Google did it with the addition of Eric Schmidt, and Facebook followed a similar path with the recruitment of Sheryl Sandberg.
There is no word as of yet as to when Woodside’s first day at Dropbox will be, but our assumption is with the announcement having already been made it can’t be too far off.