Etsy Revamps Leadership Team to Boost Growth
On Thursday, Etsy, Inc. (NASDAQ: ETSY), a global online marketplace for creative products, announced significant changes in its senior management team aimed at enhancing customer experience and revitalizing the company's growth. These strategic updates will take effect in the first week of January 2025.
Kruti Patel Goyal, currently serving as CEO of Etsy's subsidiary Depop, has been promoted to the newly created position of President and Chief Growth Officer at Etsy. In this role, Patel Goyal will be responsible for integrating all customer interactions to provide an enriched and holistic experience for Etsy’s vast buyer and seller community. Oversight will encompass Product, Marketing, Member Support, Trust and Safety, as well as Strategy and Operations. While assisting with the search for her successor, Patel Goyal will continue to lead Depop until April 2025.
Lanny Baker, who has held executive positions at Eventbrite, will join Etsy as Chief Financial Officer. Baker will replace Rachel Glaser, who is retiring but will remain as a consultant until June 30, 2025, to ensure a smooth transition. Baker's new role will cover all financial responsibilities previously held by Glaser.
Brad Minor has been promoted from Chief Brand Officer to Chief Marketing Officer. Minor has played a significant role in shaping Etsy's brand strategy and will now join the senior management team reporting to Patel Goyal. Minor's promotion comes after Raina Moskowitz left to become a CEO at another company. Additionally, Etsy's Chief Technology Officer, Rachana Kumar, is leaving to explore new opportunities but will stay on as a consultant during the transition period. Etsy will initiate a search for Kumar's successor, with interim leadership coming from the current two Vice Presidents of Engineering.
CEO Josh Silverman expressed gratitude to the departing executives for their significant contributions to Etsy's success. He also highlighted his confidence in the potential of the newly appointed leaders to drive the company's growth forward. This change in management is not related to Etsy's financial performance.
During her tenure at Depop, Patel Goyal revitalized the brand and significantly increased gross merchandise sales. Baker brings over 20 years of financial and operational role experience in the consumer internet and marketplace sectors. Minor's background includes significant brand marketing roles across various industries, positioning him well for his new role at Etsy.