Shopify executive exodus continues as nearly half of C-level team set to leave company Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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The exodus of long-standing Shopify Inc. executives continued Wednesday, as chief executive officer Tobi Lutke announced three of the company’s seven chief-level officers would leave the online commerce software giant.
Mr. Lutke said in a blog post that chief talent officer Brittany Forsyth, chief legal officer Joe Frasca and chief technology officer Jean-Michel Lemieux would all “transition out of their current roles,” which they have all held for at least six years, in the coming months.
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Alia Youssef/The Globe and Mail
After the year Shopify Inc. has had, you might expect its co-founder and CEO Tobi Lutke to sound a little…cheerier.
Riding a global surge in pandemic-related e-commerce traffic, Shopify – which makes the software used by more than a million merchants to sell their products online – surpassed Royal Bank of Canada to become Canada’s most valuable company. It now has a market capitalization of US$177-billion, making it only the second Canadian tech company, after Nortel Networks, to reach such heights. It raised billions of dollars from stock sales last year and even posted a rare quarterly profit of US$191-million in October on third quarter on revenues of US$767.4-million –