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Shopify’s Lutke Wins New Voting Rights on Shareholder Ballot

Shopify founder and CEO Tobias Lutke
Shopify founder and CEO Tobias LutkeSource:
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Shopify Inc. investors have agreed to grant Chief Executive Officer Tobi Lutke special voting rights, securing his influence at the e-commerce software company he founded. 

Shareholders voted in favor of a proposal to create a “founder share” for Lutke, ignoring the advice of two prominent advisory firms. The change guarantees Lutke at least 40% of the voting rights at the company under certain conditions, including that he stays with the company.