Etsy Names New CEO
Kruti Patel Goyal is replacing Etsy's long-time CEO, Josh Silverman, who is stepping down by the end of the year.
Online marketplace Etsy announced that its long-time CEO, Josh Silverman, will step down by the end of the year. Kruti Patel Goyal, Etsy’s president and chief growth officer, will become the company’s next CEO.
- Silverman, who headed the marketplace for eight years, will become its executive chairman.
- Goyal worked at Etsy for more than 10 years until she was named the CEO of social-commerce platform Depop, which Etsy bought four years ago.
- She has been in her current role for about seven months.
Etsy has faced challenges in growing its business and may be looking to Goyal’s experience leading Depop to help revive growth. In its third quarter ended September 30, the number of active buyers on Etsy fell 5% to 86.6 million from a year earlier.
No comment from Josh Silverman or Kruti Patel Goyal is available.
Author's summary: Kruti Patel Goyal is Etsy's new CEO.