Etsy Appoints New CEO
Etsy's long-time CEO, Josh Silverman, is stepping down by the end of the year, and Kruti Patel Goyal will become the company's next CEO.
Goyal, Etsy's president and chief growth officer, has been in her current role for about seven months. She previously worked at Etsy for over 10 years and was the CEO of social-commerce platform Depop, which Etsy acquired four years ago.
Silverman, who headed the marketplace for eight years, will become its executive chairman. Etsy has faced challenges in growing its business, with the number of active buyers falling 5% to 86.6 million in the third quarter ended September 30.
Etsy may be looking to Goyal's experience leading Depop to help revive growth.
No comment from Silverman or Goyal is available.
Author's summary: Kruti Patel Goyal replaces Josh Silverman as Etsy's CEO.