Etsy Inc. (NYSE: ETSY) announced a leadership transition plan with current President and Chief Growth Officer Kruti Patel Goyal set to become Chief Executive Officer effective January 1, 2026. Josh Silverman will step down as CEO on December 31, 2025, and transition to Executive Chair through December 31, 2026.

Patel Goyal will join Etsy's Board of Directors upon assuming the CEO role. Fred Wilson, who has served as Board Chairman since 2017, will step down from that position but remain on the board.

Silverman has led Etsy for over eight years. During his tenure, the company reports that shopper numbers more than tripled, gross merchandise sales grew fourfold, and revenue increased nearly eightfold. The company's share price appreciated by more than seven times during this period, according to the announcement.

Patel Goyal previously served as CEO of Depop, Etsy's fashion resale marketplace subsidiary, from September 2022. Under her leadership, Depop's gross merchandise sales and buyer base nearly doubled. The platform became what the company describes as the fastest-growing online apparel resale marketplace in the United States.

Before joining Depop, Patel Goyal worked at Etsy for over 10 years in various leadership positions, including Chief Product Officer and head of the global Seller Services business. She also oversaw Corporate Development, led the International Growth team, and served as the first head of Marketplace Integrity and Trust & Safety.

"I believe that we have been on the right track this year in our efforts to return our core marketplace to GMS growth and deliver value to our community and our shareholders," Patel Goyal said in the announcement.

Etsy operates online marketplaces connecting buyers and sellers globally, with its primary platform serving as a destination for unique and creative goods. The Brooklyn-based company was founded in 2005.