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, who has been Etsy's president and chief growth officer for about seven months, 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 faces 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.
Author's summary: Kruti Patel Goyal is Etsy's new CEO.