Why is Kruti Patel Goyal the Next CEO of Etsy?

Online marketplace Etsy Inc. has announced that Kruti Patel Goyal, current President and Chief Growth Officer, will become the CEO on 1 January 2026 as part of a long-term succession strategy. 

Kruti, who has played a pivotal role in driving Etsy’s growth strategy and expanding its global marketplace, will also join the company’s Board of Directors as part of the leadership transition. 

Her appointment marks an important milestone in Etsy’s ongoing evolution as a platform that connects millions of passionate and creative buyers and sellers around the world.

This transition follows the announcement that Josh Silverman, Etsy’s current CEO, will step down from his role at the end of 2025. 

He said: “After over eight years as Etsy's CEO, I’ve decided that this is the right time for me to hand over the leadership baton to the next generation. 

“It has been an honour to lead Etsy and help foster creativity and self-expression in a world increasingly shaped by automation.” 

Josh, who has led the company since 2017, has been credited with strengthening Etsy’s brand, improving operational efficiency and expanding its international reach. 

To ensure a smooth transition and continued strategic focus, Silverman is expected to serve as Executive Chair through 31 December 2026.

Additionally, Fred Wilson, who has served as Chair of Etsy’s Board since 2017, will step down from his position but continue to contribute as a member of the Board of Directors. 

Discussing the new appointment, Fred said: “We have full confidence in Kruti’s ability to lead Etsy into its next chapter, serve our sellers and buyers and deliver value to our stakeholders. 

“The board has been actively engaged in rigorous succession planning, and today’s announcement reflects the exceptional contributions and leadership that Kruti has demonstrated during her tenure.”

Succession planning at Etsy

In the company’s proxy statements, Etsy has said that its board “considers its oversight and involvement in key aspects of management succession planning to be critical in ensuring Etsy’s competitive success over the long-term.”

This focus on leadership development is reflected in Etsy’s 2021 acquisition of Depop, a London-based resale marketplace popular among Gen Z consumers. 

The US$1.625bn deal expanded Etsy’s reach into the circular fashion market while reinforcing its mission to “keep commerce human.” 

At the time, Josh said: “We are simply thrilled to be adding Depop – what we believe to be the resale home for Gen Z consumers – to the Etsy family. Depop is a vibrant, two-sided marketplace with a passionate community, a highly-differentiated offering of unique items, and we believe significant potential to further scale.”

In 2022, Kruti was appointed CEO of Depop, leading efforts to strengthen the platform’s marketplace and global growth. 

She became President and Chief Growth Officer at Etsy on 1 January 2025, after nearly three years guiding Depop’s expansion and success.

Discussing her new role, she said: “I’m honoured and excited to step into the CEO role at Etsy at such a pivotal time.

“As customers need to evolve, Etsy will too - but we’ll do it in a way that stays true to who we are, leaning into what makes us different: human connection, our sellers’ creativity and a distinct personal shopping experience.”

Q3 earnings

The leadership announcement coincided with Etsy’s third-quarter earnings report. For Q3, the company reported adjusted earnings per share of 63 cents on revenue of US$678m, beating consensus estimates of 53 cents per share and US$655.3m. 

Revenue rose 2.4% year over year, while gross merchandise sales (GMS) reached US$2.72bn, a 6.5% decline from the prior year but above expectations of US$2.68bn. 

Net income rose to US$75.5m, or 63 cents per share, compared with US$57.4 million, or 45 cents per share, in 2024.

Active buyers totalled 86.6 million, down 5%, while sellers numbered 5.5 million, down nearly 11%. 

Depop remained a strong performer, with GMS up 39.4% to US$292.1m, active buyers rising nearly 40% to 6.6 million, and active sellers reaching 3 million, up 41%. 

The leadership transition reflects Etsy’s ongoing commitment to its long-term vision and support for small businesses and creative communities.