Shopify Inc. is proposing changes to its governance structure to preserve founder and CEO Tobi Lutke's voting power, but provide sunset provisions that prevent him from transferring that power.
to its governance structure to preserve founder and CEO Tobi Lutke's voting power, but provide sunset provisions that prevent him from transferring that power.
The founder share will not be transferable and will sunset if Lutke no longer serves as an executive officer, board member or consultant whose primary job is with the company or if Lutke, his immediate family and his affiliates no longer hold a number of class A and class B shares equal to at least 30 per cent of the class B shares they currently hold.
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