Connect with us

Business

Almost half of Shopify’s top execs to depart company: CEO

Published

 on

By Moira Warburton

(Reuters) – Three of e-commerce platform Shopify’s seven top executives will be leaving the company in the coming months, chief executive officer and founder of Canada‘s most valuable company Tobi Lutke said in a blog post on Wednesday.

The company’s chief talent officer, chief legal officer and chief technology officer will all transition out of their roles, Lutke said, adding that they have been “spectacular and deserve to take a bow.”

“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,” he said.

The trio follow the departure of Craig Miller, chief product officer, in September. Lutke took on the role in addition to CEO.

Shopify, which provides infrastructure for online stores, has seen its valuation soar in the last year as many businesses went virtual during COVID-19 lockdowns. It has a market cap valuation of C$182.7 billion ($146 billion), above Canada‘s top lender Royal Bank of Canada.

It is Canada‘s biggest homegrown tech success story, founded in 2006 and supporting over 1 million businesses globally, according to the company.

“We have a phenomenally strong bench of leaders who will now step up into larger roles,” Lutke said, but did not name replacements.

Shopify said in February revenue growth would slow this year as vaccine rollouts encourage people to return to stores and warned it does not expect 2020’s near doubling of gross merchandise volume, an industry metric to measure transaction volumes, to repeat this year.

Chief talent officer, Brittany Forsyth, was the 22nd employee hired at Shopify and has been with the company for 11 years. She said on Twitter that post-Shopify she would be focusing on Backbone Angels, an all-female collective of angel investors she co-founded in March.

Shopify shares fell 5.1% while the benchmark Canadian share index ended marginally down.

($1 = 1.2515 Canadian dollars)

 

(Reporting by Moira Warburton in Toronto; Editing by Aurora Ellis)

Continue Reading

Business

Proposed Sugary Drink Tax “Regressive,” says Opposition Finance Critic – VOCM

Published

 on


The provincial government’s tax on sugary drinks comes into effect next September, and the minister responsible is pointing to data suggesting that the tax will work in changing people’s habits.

Siobhan Coady points to a study that was done by a British medical journal called The BMJ. She says the study, which focuses on a similar tax in the UK, found that overall sales of soft drinks did not change, nor did share prices and domestic turnover. But what did change was the sugar purchased in those drinks, which Coady says decreased by almost 10 per cent.

PC MHA Tony Wakeham asserts that such taxes do nothing to affect health outcomes, and counters that the study Cody references is completely different from what’s being proposed in this province.

In the UK, he says they were taxing producers to lower the amount of sugar in their products, and not taxing those using the product.

Wakeham says the proposed tax is negative and regressive. He says if Premier Andrew Furey is looking to modify behaviours to create healthy lifestyle changes, it should be based on positive things, not a negative tax.

Adblock test (Why?)



Source link

Continue Reading

Business

Sleep Country Canada buys controlling stake in Hush Blankets – CBC.ca

Published

 on


Sleep Country Canada Holdings Inc. has signed a deal to buy Hush Blankets, a direct-to-consumer seller of weighted blankets, pillows, sheets and bed-in-a-box mattresses.

Under the deal, Sleep Country will acquire a 52 per cent stake in Hush for $25 million.

The company has also agreed to buy the other 48 per cent in annual 16 percentage point stake increments starting March 31, 2023, at a price based on the business’s financial performance.

Hush was founded in 2017 by Lior Ohayon and Aaron Spivak and launched a weighted blanket in Canada in 2018.

Sleep Country says Hush will continue to operate as an independent business led by Ohayon and Spivak and a board including senior management from Sleep Country and Hush.

Adblock test (Why?)



Source link

Continue Reading

Business

These countries are vaccinating children against COVID-19 – CTV News

Published

 on


Pfizer Inc and BioNTech SE have asked U.S. regulators to authorize their COVID-19 vaccine for emergency use in children aged 5-11, with an expert panel to the Food and Drug Administration scheduled to meet later this month to review data.

But with many parts of the world still awaiting doses for more vulnerable people, the World Health Organization has urged countries and companies that control the global supply of the vaccines to prioritize supply to COVAX.

The following is a list of some countries that have approved or are considering vaccinating children:

EU COUNTRIES

  • In June, Denmark said it would offer COVID-19 shots to children aged 12-15 to boost its overall immunity against the virus.
  • France has started vaccinating those from 12 years upwards, provided they have parental consent.
  • Germany in August agreed to make vaccination available to all children aged 12-17.
  • Austria has started vaccinating children aged 12-15.
  • Estonia could start vaccinating teenagers by the autumn, public broadcaster ERR reported, citing the head of the government’s COVID-19 council.
  • Hungary started vaccinating 16 to 18-year-olds in mid-May, according to Xinhua news agency.
  • Italy on May 31 approved extending the use of Pfizer’s vaccine to 12-15 year olds.
  • Lithuania’s prime minister said the country could start vaccinating children from age 12 in June, news site Delfi reported.
  • Spain begun vaccinating children between 12 and 17 years old around two weeks before the academic year in September, the health minister said.
  • Swedish PM says children aged 12-15 will be offered COVID vaccine later this autumn.
  • Greece in July said children aged 12-15 could be vaccinated against COVID-19 with Pfizer/BioNTech and Moderna shots.
  • Finland’s capital Helsinki in June said it will begin giving COVID-19 vaccines to children aged 12 to 15 who are at risk of contracting a severe coronavirus infection.

EUROPE (NON-EU)

  • Britain’s top medical advisers in September recommended that 12 to 15-year-olds receive a first dose of a COVID-19 vaccine.
  • Switzerland approved on June 4 vaccinating 12 to 15-year-olds with Pfizer’s shot, while Moderna’s shot was approved in August for the age group.
  • In September, Norway started to offer one dose of Pfizer and BioNTech COVID-19 vaccine to children aged 12 to 15
  • San Marino has opened vaccinations for children aged 12-15, reported San Marino RTV, citing its Institute for Social Security.

MIDDLE EAST

  • In August, Israel on Sunday began offering a COVID-19 booster to children as young as 12.
  • The United Arab Emirates said in August rolled out China’s Sinopharm COVID-19 vaccine to children aged 3-17.

ASIA-PACIFIC

  • Indonesia on June 28 recommended China’s Sinovac vaccine for children aged 12-17.
  • An advisory committee to the Indian regulator recommended emergency use of Bharat Biotech’s COVID-19 shot in the 2 to 18 age-group. The regulator’s nod is awaited.
  • New Zealand’s medicines regulator has provisionally approved use of Pfizer’s vaccine for 12-15 year olds, Prime Minister Jacinda Ardern said on June 21.
  • Australia said on Sept. 12 it will expand its COVID-19 vaccination drive to include around one million children aged 12-15.
  • China on June 5 approved emergency use of Sinovac’s vaccine for those between three and 17.
  • Hong Kong said on June 3 it would open its vaccine scheme to children over the age of 12.
  • Singapore opened up its vaccination program to adolescents aged 12-18 from June 1.
  • Japan on May 28 approved the use of Pfizer’s vaccine for those aged 12 and above.
  • The Philippines on May 26 decided to allow the Pfizer-BioNTech’s vaccine for emergency use in children aged 12-15.
  • Jordan in July begun vaccinating children aged 12 years and older against COVID-19.

AMERICAS

  • The COVID-19 vaccine by Pfizer-BioNTech will be the only one used in Mexico for at-risk children aged 12-17.
  • Brazil on June 11 approved use of Pfizer’s vaccine for children over 12.
  • Chile has approved use of Pfizer’s vaccine for 12 to 16-year-olds.
  • Pfizer and BioNTech have asked U.S. regulators to authorize emergency use of their COVID-19 vaccine for children ages 5 to 11. An advisory committee to the FDA will meet later this month to review the data.
  • Canada in early May approved use of Pfizer’s vaccine for use in children aged 12-15. The country has fully vaccinated more that 80% of its eligible population ages 12 and over.
  • Cuba’s vaccination campaign includes children as young as two.

AFRICA

  • South Africa will start vaccinating children between the ages of 12 and 17 next week using the Pfizer vaccine

Adblock test (Why?)



Source link

Continue Reading

Trending