Etsy Appoints New CEO
Etsy has named Kruti Patel Goyal as its new CEO, replacing Josh Silverman who will step down by the end of the year.
Silverman, who has led the company for eight years, will become executive chairman. Goyal, formerly the CEO of Depop, has been Etsy's president and chief growth officer for seven months.
Etsy has faced challenges in growing its business, with a 5% decline in active buyers to 86.6 million in the third quarter. The company may be looking to Goyal's experience to help revive growth.
Etsy's new CEO has a strong background in leading social-commerce platforms, having previously headed Depop.
Author's summary: Kruti Patel Goyal replaces Josh Silverman as Etsy's CEO.
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