Etsy Chief Technology Officer Rachana Kumar departs as online marketplace makes sweeping C-suite changes

Etsy is making big changes to its C-suite, which it says are unrelated to its disappointing financial performance. The shakeup closely follows the release of mixed third-quarter results during October.

Kruti Patel Goyal, currently Chief Executive Officer at Etsy's Depop subsidiary, has been appointed President and Chief Growth Officer.

In this newly created role, Goyal will report to Etsy's CEO, Josh Silverman, and be responsible for bringing together all customer touchpoints with the aim of delivering a more compelling and inspiring experience for Etsy's buyers and sellers. 

She will oversee Product, Marketing, Member Support, Trust and Safety, and Strategy and Operations. Goyal will also continue as acting CEO at Depop through April 2025, working with the firm’s executive team to identify the next leader.

"Kruti is a world class leader with a proven ability to drive growth by obsessing over the customer experience. Over the past decade, Kruti has built and scaled critical functions for Etsy during high growth periods. Most recently, she led an exciting transformation at Depop, making it the top-performing brand in our portfolio from a growth perspective," Silverman says.

"Etsy is at an inflection point; we must stay true to our roots while innovating and evolving to meet the ever changing needs of today's customer. Kruti is uniquely positioned to take on this challenge."

Goyal comments: "I'm so proud that Depop has become the fastest growing online apparel resale marketplace in the US., by offering a fresh and engaging experience for our community that they can't find anywhere else.”

“And I'm equally excited to return to Etsy to help Josh and our team reignite growth by delivering a uniquely compelling and meaningful experience across every customer touchpoint, powered by the human connection that defines Etsy."

Elsewhere, Lanny Baker, currently Chief Operating Officer and previously Chief Financial Officer at Eventbrite, an events marketplace, will join Etsy as Chief Financial Officer. He will succeed Rachel Glaser, who announced her decision to retire in July.

Silverman says: "Lanny is an exceptionally versatile, accomplished and strategic leader with a 20+ year track record within the consumer internet, digital media and marketplace sectors - excelling at aligning teams and resources to achieve value creating results. His financial acumen, operational skills and growth orientation are going to be critical ingredients as he partners with me, Kruti and the rest of our executive leadership."

Baker adds: "I can't wait to get started at Etsy, a company I have long admired, with the opportunity to help take this great business to its next phase of growth and success. It has all the ingredients required to continue to stand apart - a highly differentiated product offering, a passionate and creative community of sellers and buyers, a world class team, a highly flexible capital light business model, and an extremely strong financial foundation."

Raina Moskowitz will be joining another company as its Chief Executive Officer, stepping down as Etsy's Chief Operating and Marketing Officer. Brad Minor, presently Chief Brand Officer, will assume the position of Chief Marketing Officer.

Since joining in 2022, Minor has led the evolution and execution of its brand strategy as well as multiple cross-functional initiatives, including the launch of a gifting strategy and recent brand mission campaign, which celebrates creativity, originality, and human connection.

Finally, Chief Technology Officer Rachana Kumar will depart to pursue new opportunities. Kumar has agreed to remain in an advisory capacity over the coming months. The company will initiate a search for her successor, with interim leadership provided by two current Vice Presidents of Engineering.

Silverman says: "I'd like to express my gratitude and appreciation for Rachel, Raina, and Rachana. Each has had an immense impact on Etsy. Their partnership, leadership, and expertise helped fuel our growth, scale our platform, build customer loyalty and trust, and nurture a community unlike any other.”

“I'd also like to congratulate Brad on this well deserved new role; he has created an inspiring vision for how Etsy shows up in the world, and I'm excited for him to expand his impact."

2024 RTIH INNOVATION AWARDS

Online retail was a key focus area at the sixth edition of the RTIH Innovation Awards.

The awards, sponsored by Vista Technology Support, Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Business France, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended last month’s gathering.