Mark Leonard resigned as president of the Toronto-based tech giant Thursday, effective immediately. Chief operating officer Mark Miller will take over his role and Leonard will remain on the board. (The Logic)

Talking point: Leonard founded Constellation Software in 1995, growing it into one of the Toronto Stock Exchange’s top performers through a string of tech-company acquisitions. Recently, the company has struggled to respond to how AI might affect its business, as the technology gets better at writing and testing software code. Leonard’s departure comes days after he hosted a call with investors and analysts, in which he tried to ease concerns about AI. Jefferies analyst Samad Samana said the timing of Leonard’s resignation “raises the question of whether the uncertainty following the call influenced the decision.” Constellation shares were down about seven per cent Thursday afternoon.