Etsy has named Kruti Patel Goyal as its next CEO, replacing Josh Silverman, who will become executive chairman by the end of the year.

Goyal, who previously led social-commerce platform Depop after more than a decade at Etsy, has served as Etsy’s president and chief growth officer for about seven months.

Etsy, an online marketplace, has seen its active buyers fall 5% year-on-year to 86.6 million in Q3, while active sellers dropped 10.9% to 5.5 million.

Gross merchandise sales fell 2.4% to US$2.4 billion for the quarter.

🔗 Source: TechCrunch