Summary by Moomoo AI
Etsy announced that CFO Rachel Glaser will retire after nearly 40 years in strategic finance roles, including over 7 years at Etsy. She will remain in her current role until a successor is appointed and continue as an advisor through June 2025 to ensure a smooth transition. The company has initiated an executive search for her replacement.During Glaser's tenure since 2017, Etsy achieved significant growth with consolidated GMS and revenue increasing fourfold and sixfold respectively. The company generated over $3 billion in operating cash flow, while expanding adjusted EBITDA margins. Under her financial leadership, Etsy's global seller base grew from 2 million to 9 million, and buyers increased from 33 million to 96 million.Glaser has been instrumental in scaling Etsy's core marketplace and expanding it into a House of Brands, leading strategic finance, corporate development, accounting, SEC reporting, and investor relations functions. CEO Josh Silverman praised her strategic partnership and contribution to Etsy's tremendous success, highlighting her role in crafting the company's culture and operational excellence.
