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 take over as the company's new CEO.
Goyal, who has been Etsy's president and chief growth officer for about seven months, previously worked at Etsy for over 10 years before becoming 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 ended September 30.
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.
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