A voltage regulator includes a high-side device, a low-side device, and a controller. The high-side device includes first and second transistors each coupled between an input terminal and an intermediate terminal, where the first transistor has a higher breakdown voltage than the second transistor. The low-side device is coupled between the intermediate terminal and a ground terminal. The controller is configured to drive the high-side and low-side devices to (a) alternately couple the intermediate terminal to the input terminal and the ground terminal and (b) cause the first transistor to control a voltage across the second transistor during switching transitions of the second transistor.