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.
Goyal, currently Etsy's president and chief growth officer, 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.
Silverman, who headed the marketplace for eight years, will become its executive chairman. Etsy has faced challenges in growing its business, with a 5% decline in active buyers to 86.6 million in the third quarter.
Etsy may be looking to Goyal's experience leading Depop to help revive growth.
Goyal has been in her current role for about seven months.
Author's summary: Kruti Patel Goyal replaces Josh Silverman as Etsy CEO.