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Shopify shares rise after almost half of e-commerce platform's top execs quit

Reuters
·1 min read

April 15 (Reuters) - U.S.-listed shares of Shopify Inc climbed in heavy premarket trading on Thursday after Canada's most valuable company said three of its top seven executives will be leaving the e-commerce platform in the coming months.

Shopify, which provides infrastructure for online stores, has seen its valuation soar in the last year as many businesses went virtual during the COVID-19 lockdowns.

The Ottawa, Canada-based company, whose chief product officer Craig Miller left in September, said its chief talent officer, chief legal officer and chief technology officer will all transition out of their roles.

"Each 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," Chief Executive Officer Tobi Lutke said in a blog post on Wednesday.

U.S.-listed shares of the e-commerce platform were up 2.3% at $1207 in early trading. (Reporting by Subrat Patnaik in Bengaluru; Editing by Sherry Jacob-Phillips)