Etsy Appoints New CEO
Etsy's long-time CEO, Josh Silverman, is stepping down by the end of the year, and will be replaced by Kruti Patel Goyal, the company's president and chief growth officer.
Silverman, who headed the marketplace for eight years, will become its executive chairman. Goyal has previously worked at Etsy for over 10 years and was the CEO of Depop, a social-commerce platform acquired by Etsy four years ago.
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. The company may be looking to Goyal's experience leading Depop to help revive growth.
Kruti Patel Goyal will become the company's next CEO, bringing her experience from Depop to the role.
Author's summary: Kruti Patel Goyal replaces Josh Silverman as Etsy's CEO.
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