Shopify appoints new COO and CFO

Canadian e-commerce giant Shopify has announced key changes to its leadership team.

Kaz Nejatian, the company’s vice president of product, has been promoted with immediate effect to chief operating officer. He will also retain his position as VP of product.

Nejatian succeeds Toby Shannan who will serve as a special advisor through the end of the year and is expected to join the company’s board as of January 1.

Shopify founder and CEO Tobi Lütke described incoming COO Nejatian as “an innovative and strategic product leader” and “the right person” to succeed Shannan.

Additionally, Shopify announced the appointment of Jeff Hoffmeister as chief finance officer.

Hoffmeister joins from Morgan Stanley, where he spent over two decades in its Technology Investment Banking group.

He succeeds Amy Shapero who will step down on October 27 following the publication of the company’s third quarter results.

Lütke commented: “As we position Shopify for the future, the addition of [Hoffmeister] to our leadership team will continue to strengthen our ability to deliver value for our merchants, partners and investors.”