Etsy Announces Planned Retirement of CFO Rachel Glaser
Etsy (NASDAQ: ETSY) has announced the planned retirement of CFO Rachel Glaser after a nearly 40-year career, including over seven years at Etsy. The company has initiated a search for her successor, with Glaser remaining in her role until a replacement is appointed and staying on as an advisor through June 30, 2025. During her tenure, Etsy's consolidated gross merchandise sales (GMS) and revenue increased fourfold and sixfold, respectively, with adjusted EBITDA margins expanding even faster. The company generated over $3 billion in net cash from operating activities, while its global seller base grew from 2 million to 9 million and buyers increased from 33 million to 96 million between 2017 and 2023.
Etsy (NASDAQ: ETSY) ha annunciato il previsto ritiro del CFO Rachel Glaser dopo quasi 40 anni di carriera, di cui oltre sette anni trascorsi in Etsy. L'azienda ha avviato la ricerca per il suo successore, con Glaser che continuerà a ricoprire il suo ruolo fino all'assegnazione di un sostituto e rimarrà come consulente fino al 30 giugno 2025. Durante il suo mandato, le vendite consolidate di merci (GMS) e i ricavi di Etsy sono aumentati rispettivamente di quattro e sei volte, con margini di EBITDA rettificato che sono cresciuti anche più rapidamente. L'azienda ha generato oltre $3 miliardi in liquidità netta da attività operative, mentre la sua base globale di venditori è passata da 2 milioni a 9 milioni e gli acquirenti sono aumentati da 33 milioni a 96 milioni tra il 2017 e il 2023.
Etsy (NASDAQ: ETSY) ha anunciado la jubilación planificada de la CFO Rachel Glaser después de casi 40 años de carrera, incluyendo más de siete años en Etsy. La compañía ha iniciado la búsqueda de su sucesor, con Glaser permaneciendo en su puesto hasta que se designe un reemplazo y quedando como asesora hasta el 30 de junio de 2025. Durante su mandato, las ventas consolidadas de mercancías (GMS) y los ingresos de Etsy aumentaron cuatro y seis veces, respectivamente, con los márgenes de EBITDA ajustados expandiéndose incluso más rápido. La compañía generó más de $3 mil millones en efectivo neto de actividades operativas, mientras su base global de vendedores creció de 2 millones a 9 millones y los compradores aumentaron de 33 millones a 96 millones entre 2017 y 2023.
Etsy (NASDAQ: ETSY)는 CFO Rachel Glaser가 거의 40년의 경력을 마치고 퇴사할 예정이라고 발표했습니다. 그 중 Etsy에서의 경력이 7년이 넘습니다. 회사는 그녀의 후임자를 찾기 위한 절차를 시작했으며, Glaser는 대체자가 임명될 때까지 현재 역할을 유지하고 2025년 6월 30일까지 고문으로 남을 예정입니다. 그녀의 재임 기간 동안 Etsy의 통합 총 상품 판매(GMS) 및 수익이 각각 4배와 6배 증가했습니다, 조정된 EBITDA 마진은 훨씬 더 빠르게 증가했습니다. 회사는 운영 활동에서 30억 달러 이상의 순 현금을 생성했습니다, 그 동안 전 세계 판매자는 200만 명에서 900만 명으로 증가하고, 구매자는 2017년에서 2023년 사이에 3천300만 명에서 9천600만 명으로 증가했습니다.
Etsy (NASDAQ: ETSY) a annoncé la retraite prévue de la CFO Rachel Glaser après près de 40 ans de carrière, dont plus de sept ans chez Etsy. L'entreprise a engagé une recherche pour trouver son successeur, Glaser restant dans son poste jusqu'à la nomination d'un remplaçant et demeurant conseillère jusqu'au 30 juin 2025. Au cours de son mandat, les ventes consolidées de marchandises (GMS) et les revenus d'Etsy ont augmenté respectivement dans un rapport de quatre et six, les marges d'EBITDA ajustées ayant même connu une expansion plus rapide. L'entreprise a généré plus de 3 milliards de dollars de liquidités nettes provenant des activités opérationnelles, tandis que sa base de vendeurs mondiale est passée de 2 millions à 9 millions et le nombre d'acheteurs est passé de 33 millions à 96 millions entre 2017 et 2023.
Etsy (NASDAQ: ETSY) hat die geplante Pensionierung der CFO Rachel Glaser nach einer fast 40-jährigen Karriere, davon über sieben Jahre bei Etsy, angekündigt. Das Unternehmen hat die Suche nach ihrem Nachfolger eingeleitet, wobei Glaser bis zur Ernennung eines Nachfolgers in ihrer Rolle bleibt und bis zum 30. Juni 2025 als Beraterin tätig ist. Während ihrer Amtszeit stiegen die konsolidierten Bruttowarenverkäufe (GMS) und der Umsatz von Etsy um das Vier- und Sechsfache, wobei die bereinigten EBITDA-Margen noch schneller wuchsen. Das Unternehmen generierte über 3 Milliarden Dollar an Nettobararbeit aus operativen Aktivitäten, während die globale Verkäuferbasis von 2 Millionen auf 9 Millionen und die Käuferzahlen von 33 Millionen auf 96 Millionen zwischen 2017 und 2023 anstiegen.
- Etsy's consolidated gross merchandise sales (GMS) increased fourfold during Glaser's tenure
- Company revenue grew sixfold under Glaser's leadership
- Adjusted EBITDA margins expanded at a faster pace than GMS and revenue growth
- Generated over $3 billion in net cash from operating activities
- Global seller base grew from 2 million to 9 million between 2017 and 2023
- Buyer base increased from 33 million to 96 million between 2017 and 2023
- None.
Since joining Etsy in 2017, Rachel has led Etsy's strategic finance, corporate development, accounting, SEC reporting, investor relations, and other core functions. She has played a key role in scaling Etsy's core marketplace and expanding Etsy into a House of Brands. During her tenure, Etsy's consolidated gross merchandise sales (GMS) and revenue have increased by fourfold and sixfold, respectively, with adjusted EBITDA margins expanding at an even faster pace, and Etsy has generated over
Etsy, Inc. Chief Executive Officer Josh Silverman commented, "Rachel has been a strategic partner and a key to the tremendous success we have achieved since 2017. I believe every CFO wants to get measured on results, and Rachel has so much to be proud of in that regard. Beyond the numbers, Rachel leads with optimism and heart, helping craft our culture and our team's operational excellence. She has built a strong team, and I am grateful she chose Etsy to serve as the culmination of her impressive career. Our entire community will continue to benefit from the impact she has made."
Rachel Glaser, Chief Financial Officer, added, "I could not be prouder to be part of everything the Etsy team has accomplished over the past seven years. I am excited to help identify and transition my responsibilities to a successor. I'm confident Etsy can continue its ambitious strategy for sustainable, profitable growth, and advance its mission of keeping commerce human."
*All comparisons are fiscal year 2017 to fiscal year 2023 on a consolidated basis. Etsy, Inc. number of global sellers increased from 2 million to 9 million and number of buyers increased from 33 million to 96 million.
Rachel Glaser Bio
Rachel has been responsible for overseeing Etsy's global financial operations since 2017. Prior to that, she served as Chief Financial Officer of the Leaf Group and Move, Inc. Rachel also held roles at Yahoo! Inc. as Senior Vice President, Operations Finance and at The Walt Disney Company, where she spent nearly 20 years in positions of increasing responsibility in finance and operations teams. Rachel has served as a member of the Board of Directors of The New York Times Company since 2018.
About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to "Keep Commerce Human," and we're committed to using the power of business to strengthen communities and empower people. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs.
Etsy, Inc.'s "House of Brands" portfolio also includes fashion resale marketplace Depop, and Reverb, the largest online marketplace dedicated to music gear. Each Etsy, Inc. marketplace operates independently, while benefiting from shared expertise in product, marketing, technology, and customer support.
Etsy was founded in 2005 and is headquartered in
Etsy has used, and intends to continue using, its Investor Relations website and the Etsy News Blog (etsy.com/news) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the Etsy News Blog in addition to following our press releases, SEC filings, public conference calls, and webcasts.
Investor Relations Contact :
Deb Wasser, Vice President, Investor Relations and ESG Engagement
Media Relations Contact :
Sarah Marx, Director, Corporate Communications
Cautionary Statement Regarding Forward-Looking Statements
This press release contains or references forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to the timing of Ms. Glaser's retirement and her future advisory role and Etsy's strategy for sustainable, profitable growth. Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as "believe," "could," "expect," "intend," "may," "plan," "will," or similar expressions and derivative forms and/or the negatives of those words.
Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. These risks and uncertainties include but are not limited to: (1) the level of demand for our services or products sold in our marketplaces; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) the fluctuation of our quarterly operating results; (4) our failure to meet our publicly announced guidance or other expectations; (5) any real or perceived inaccuracies in our operational metrics; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber related events; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) enforcement of our marketplace policies; (13) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (14) risks related to our environmental, social, and governance activities and disclosures; (15) our efforts to expand our operations outside of
Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements.
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SOURCE Etsy, Inc.
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