She will be replaced by long-time investment banker Jeff Hoffmeister, who spent more than two decades at Morgan Stanley in its technology investment group.
Shopify also announced on Thursday that it has a new chief operating officer. Kaz Nejatian has been promoted into the role after serving as the company’s vice-president of product. He led the development and delivery of new amenities for the company’s nearly two million merchants, including Shopify Capital, a small-business loan service, and Shop Pay,Before joining Shopify in 2019, Mr. Nejatian was the lead product manager at Facebook.
ATB Capital Markets welcomed the change, telling clients in a note that while “CFO departures can be viewed as negative, given how depressed the stock is, we do not expect a significant impact.” Ms. Shapero has not yet revealed her plans for after she leaves Shopify. The company declined interview requests on behalf of its executives on Thursday.