Etsy's long-time CEO, Josh Silverman, is stepping down by the end of the year.
Kruti Patel Goyal, Etsy's president and chief growth officer, will become the company's next CEO, replacing Silverman.
Etsy faces challenges in growing its business, with active buyers falling 5% to 86.6 million in the third quarter.
Etsy may be looking to Goyal's experience leading Depop to help revive growth.
Author's summary: Kruti Patel Goyal is Etsy's new CEO.