Etsy stock falls on disappointing earnings and CEO change

Etsy CEO Josh Silverman will step down and become executive chairman at the end of the year, the online marketplace announced Wednesday.

Kruti Patel Goyal, CEO of Etsy-owned clothing resale app Depop, will take the helm of Etsy effective January 1, 2026, the company announced.

Etsy shares fell more than 9% in premarket trading following the news, which was announced alongside the company’s third-quarter earnings report.

Silverman, a former eBay executive, held the top job for the past eight years and guided the company through a surge in demand brought on by the Covid-19 pandemic, when shoppers flocked to the site to purchase masks.

Etsy has struggled to grow its business since the pandemic e-commerce boom, while continuing to face stiff competition from Amazon And Shopifyas well as China-related newcomers Temu, Shein and TikTok Shop.

President Donald Trump’s changing tariff policies have also strained the businesses of some Etsy sellers, particularly the removal of the “de minimis” exception in August, which meant shipments under $800 were allowed into the country virtually duty-free.

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