Shopify Shareholders Approve New Voting Rights for CEO Tobi Lutke, Stock Split

Shopify Shareholders Approve New Voting Rights for CEO Tobi Lutke, Stock Split
Shopify CEO Tobias Lutke participates in the company's Annual General Meeting of Shareholders in Ottawa on May 29, 2019. The Canadian Press/Justin Tang
|Updated:

Shopify Inc. shareholders voted to solidify founder and CEO Tobi Lütke’s voting power for as long as he is at the company and ensure he, his family and affiliates will hold 40 percent of the company’s voting power.

The approval received at Shopify’s annual general meeting approved a new corporate governance structure that would grant Lütke non-transferable founder shares.