{"id":112113,"date":"2021-04-15T00:36:36","date_gmt":"2021-04-15T00:36:36","guid":{"rendered":"https:\/\/fin2me.com\/?p=112113"},"modified":"2021-04-15T00:36:36","modified_gmt":"2021-04-15T00:36:36","slug":"almost-half-of-shopifys-top-execs-to-depart-company-ceo","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/almost-half-of-shopifys-top-execs-to-depart-company-ceo\/","title":{"rendered":"Almost half of Shopify's top execs to depart company: CEO"},"content":{"rendered":"

(Reuters) – Three of e-commerce platform Shopify\u2019s seven top executives will be leaving the company in the coming months, chief executive officer and founder of Canada\u2019s most valuable company Tobi Lutke said in a blog post on Wednesday.<\/p>

FILE PHOTO: An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada, October 22, 2018. REUTERS\/Chris Wattie\/File Photo<\/figcaption>

The company\u2019s chief talent officer, chief legal officer and chief technology officer will all transition out of their roles, Lutke said, adding that they have been \u201cspectacular and deserve to take a bow.\u201d<\/p>\n

\u201cEach one of them has their individual reasons but what was unanimous with all three was that this was the best for them and the best for Shopify,\u201d he said.<\/p>\n

The trio follow the departure of Craig Miller, chief product officer, in September. Lutke took on the role in addition to CEO.<\/p>\n

Shopify, which provides infrastructure for online stores, has seen its valuation soar in the last year as many businesses went virtual during COVID-19 lockdowns. It has a market cap valuation of C$182.7 billion ($146 billion), above Canada\u2019s top lender Royal Bank of Canada.<\/p>\n

It is Canada\u2019s biggest homegrown tech success story, founded in 2006 and supporting over 1 million businesses globally, according to the company.<\/p>\n

\u201cWe have a phenomenally strong bench of leaders who will now step up into larger roles,\u201d Lutke said, but did not name replacements.<\/p>\n

Shopify said in February revenue growth would slow this year as vaccine rollouts encourage people to return to stores and warned it does not expect 2020\u2019s near doubling of gross merchandise volume, an industry metric to measure transaction volumes, to repeat this year.<\/p>\n

Chief talent officer, Brittany Forsyth, was the 22nd employee hired at Shopify and has been with the company for 11 years. She said on Twitter that post-Shopify she would be focusing on Backbone Angels, an all-female collective of angel investors she co-founded in March.<\/p>\n

Shopify shares fell 5.1% while the benchmark Canadian share index ended marginally down.<\/p>\n

($1 = 1.2515 Canadian dollars)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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