Etsy CEO Josh Silverman Plans to Step Down. The Online Marketplace's Stock Is Plunging

Core Insights - Etsy's shares fell nearly 9% following the announcement of a leadership change, but are still up about 30% year-to-date [1][4] - CEO Josh Silverman will step down at the end of 2025, with President and Chief Growth Officer Kruti Patel Goyal taking over [2][6] - Silverman will transition to the role of executive chair until the end of 2026, emphasizing the timing is right for new leadership [2][3] Company Performance - Etsy reported better-than-expected third-quarter results, with earnings per share of $0.63 and revenue of $678 million, a 2.4% year-over-year increase [3][6] - Despite the positive earnings, gross merchandise sales declined by 6.5% to $2.72 billion, influenced by the sale of the music gear marketplace Reverb [3][6] - Investors are likely to monitor how the new CEO will address competition and marketplace growth challenges [2][3]