Shopify Appoints Mikhail Parakhin as New Chief Technology Officer

August 28, 2024 08:39 PM PDT | By Team Kalkine Media

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Shopify Appoints Mikhail Parakhin as New Chief Technology Officer — Image source: © Besttime | Megapixl.com

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Shopify Inc. (NYSE:SHOP), the leading Ottawa-based e-commerce software firm, has announced the appointment of Mikhail Parakhin as its new Chief Technology Officer (CTO), filling a role that has been vacant since January 2023. Parakhin brings a wealth of experience to the position, with a strong background in technology leadership at major global companies.

A Strategic Leadership Addition

Mikhail Parakhin's appointment marks a significant development for Shopify, as the company looks to strengthen its technological capabilities. According to Parakhin's LinkedIn profile, he previously served as the CEO of Microsoft's advertising and web services division and held the role of CTO at Yandex, the prominent Russian tech company known for its search engine.

In his new role at Shopify, Parakhin will oversee the company’s engineering and data organizations, playing a critical part in advancing Shopify's machine-learning and artificial intelligence initiatives. This strategic focus on AI and machine learning is in line with Shopify's broader goals of enhancing the capabilities of its e-commerce platform and offering more sophisticated tools for its merchants.

Filling the Gap: A New Era for Shopify’s Tech Leadership

Parakhin's appointment ends a nearly 20-month vacancy in the CTO position, which has been open since the departure of Allan Leinwand in January 2023. Leinwand left Shopify for personal reasons, and since then, CEO Tobi Lütke had been temporarily taking on some of the responsibilities associated with the CTO role.

With Parakhin now stepping into this leadership position, Shopify is poised to leverage his extensive experience in technology management and innovation. His background at major tech firms like Microsoft and Yandex is expected to bring fresh perspectives and drive continued growth and development within Shopify’s technological ecosystem.

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