Article courtesy of The Motley Fool here
2020 is a year of corporate upheavals, changes, and brutal restructuring. Many companies are still recovering from the previous crash. They might look into restructuring or downsizing to strengthen themselves after the previous ordeal or prepare for another market crash. Other companies might take a different path and make leadership changes.
That’s very bold, even if you compare it to personnel changes throughout the organization, or even with revamping departments or merging them together. A change in leadership is felt top-down and may impact morale, functionality, and even the company’s image in the market. But that’s precisely what Shopify has done.
Shopify’s chief production officer Craig Miller is leaving the company. Neither the company nor Miller himself has given a reason for the departure. The transition seems genial. Miller says that he will keep cheering the company on from the sidelines, and founder Tobias Lütke thanked Miller for helping grow Shopify for the last nine years.
Lütke himself will serve as a chief production officer from now on, as he has assumed this role along with his existing duties as a CEO.
Chief Operating Officer Harley Finkelstein is now the president. His duties will be assumed by the chief support officer. Lütke said this move was made so that Finkelstein can apply greater focus to Shopify’s growth. He has been with the company for the past 10 years.
These changes in the C-Suite come at a time when the company is trading near its all-time high. The shuffle might allow the company to leverage the current situation even better and grow more.