Etsy (ETSY) Drops 12.8% on Chairman, CEO Stepdown

Core Points - Etsy Inc. experienced a significant stock decline of 12.80% on Wednesday, closing at $65.21, despite reporting strong earnings for the third quarter [1] - The resignation of CEO Josh Silverman and other leadership changes triggered investor sell-offs [1][3] - Silverman will step down as CEO effective December 31, 2025, with Kruti Patel Goyal set to take over on January 1, 2026 [2][3] - Chairman Fred Wilson will also step down but remain on the board of directors [3] Financial Performance - Etsy reported a 31.6% increase in net income for Q3, rising to $75.5 million from $57 million year-on-year [4] - The company recorded a foreign exchange gain of $800,000 compared to a loss of $16.8 million in the same period last year [4] - Revenues increased by 2.4% to $678 million from $662 million year-on-year [4] Future Outlook - For Q4, Etsy aims to achieve gross merchandise sales between $3.5 billion and $3.65 billion [5]