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Etsy Appoints Kruti Patel Goyal as CEO Amid Sales Concerns
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Heartspace News Desk
•Source: Reuters
Photo by Roman Denisenko on Unsplash
TL;DR
Kruti Patel Goyal will replace Josh Silverman as Etsy's CEO on January 1, having previously led Depop after Etsy's acquisition. This change accompanies a forecast of lower GMS for Q4, between $3.50 billion and $3.65 billion compared to last year's $3.74 billion, plus ongoing tariff pressures, which led to a nearly 7% drop in Etsy's shares.
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Key takeaways
- Etsy has named Kruti Patel Goyal as its new Chief Executive Officer, effective January 1, succeeding Josh Silverman
- Goyal, formerly President and Chief Growth Officer at Etsy, previously led Depop following its acquisition by Etsy for $1
- This leadership transition coincides with Etsy's forecast of lower-than-anticipated gross merchandise sales (GMS) for the fourth quarter, projecting $3
Etsy has named Kruti Patel Goyal as its new Chief Executive Officer, effective January 1, succeeding Josh Silverman. Goyal, formerly President and Chief Growth Officer at Etsy, previously led Depop following its acquisition by Etsy for $1.63 billion in 2021.
This leadership transition coincides with Etsy's forecast of lower-than-anticipated gross merchandise sales (GMS) for the fourth quarter, projecting $3.50 billion to $3.65 billion compared to $3.74 billion in the same period last year. The company is also navigating ongoing tariff pressures. Consequently, Etsy's shares experienced a decline of nearly 7% after the announcement.
Related Topics
EtsyCEO appointmentKruti Patel GoyalJosh Silvermane-commerceGMS forecasttariffs
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