The logo of Shopify is seen outside its headquarters in Ottawa
Shopify is about to lose nearly half of its C-suite. Analysts are concerned about changes to its technical leadership team. The company is early on in its plans to build a fulfillment network that could challenge Amazon. See more stories on Insider’s business page.
Some big changes are coming to Shopify’s C-suite.
Shopify CEO Tobi Lutke announced on April 14 that three of the company’s seven top-ranking executives would be leaving the company in the coming months.
The departing executives are Chief Technology Officer Jean-Michel Lemieux, Chief Legal Officer Joe Frasca, and Chief Talent Officer Brittany Forsyth.
Their departures come just months after former Chief Product Officer Craig Miller also announced that he would be leaving the e-commerce platform, which is the most valuable company in Canada.
Lutke took on the chief product officer role in addition to CEO after Miller’s departure in September, but the company has not yet announced who would be taking the other open spots on the management team.
Analysts speaking with Insider say they don’t expect the executive departures to affect the company’s direction too much, as Shopify likely has a large bench of talent it can pull from for replacements.
Still, they said, it’s always a concern anytime a tech company finds itself in need of new technical leadership.
“The chief product officer and the chief technology officer typically work very hand in hand. One steers the direction of functionality, customer meetings, go-to-market, and then the other one obviously figures out all of the stuff behind the scenes and enables what that product is going to be,” Guggenheim analyst Ken Wong said to Insider.
He continued: “The fact that they are both leaving, at least for some investors, there is some concern that perhaps some of the new products that are on the horizon are not going as well.”
Leadership changes come as