(RTTNews) - Etsy, Inc. (ETSY), an ecommerce company, Wednesday announced that its chief executive officer, Josh Silverman has decided to step down from his role, effective December 31.
Kruti Patel Goyal, the current President and Chief Growth Officer of the company will be replacing him and taking office on January 1, 2026.
Silverman is expected to serve as Executive Chair through December 31, 2026 to ensure a smooth transition.
Kruti Patel was previously the executive chief of Depop, an Etsy subsidiary in September 2022. She has worked for Etsy for more than 10 years serving in leadership roles.
Fred Wilson the Chair of Etsy's Board since 2017 will also step down, but will continue to serve on the company's board.
In pre-market activity, ETSY shares are trading at $68.49, down 8.41% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
