Shopify CEO Tobi Lütke recently stated that he believes people who are on a pension are dependents and should no longer be allowed to vote, claiming they have less of a stake in the future. This started an extensive discussion online related to pensions, homeownership and voting power.
Despite his argument, Moneywise writer Godwin Oluponmile points out that Lütke benefits from his current governance at Shopify where he, his family and affiliates have 40% of the company’s voting power for as long as he stays. Richard Leblanc, a professor in the School of Administrative Studies, comments on this disproportionate level of power, saying “you’re essentially betting on the person now and not the company.”
Leblanc is a leading expert in corporate governance and accountability. He is lawyer, public speaker and consultant and has taught corporate governance at Harvard University. He is a Fellow of the Institute of Certified Management Consultants of Ontario and an academic fellow of the International Council of Management Consulting Institutes.
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