WASHINGTON (dpa-AFX) - Etsy (ETSY) announced that its board has approved a new $750 million share repurchase authorization, lifting the company's total buyback capacity to nearly $1 billion when combined with more than $200 million remaining under its existing program.
The company said the decision reflects confidence in its share value, balance sheet strength, and near-term growth strategy.
The board also appointed Fred Wilson, the current chair, as Lead Independent Director, effective January 1, 2026. The move aligns with a previously disclosed leadership transition in which Kruti Patel Goyal will become chief executive officer and Josh Silverman will shift from CEO to executive chair on the same date.
Silverman said the company's strong cash position, totaling about $1.6 billion at the most recent quarter-end, along with solid free cash flow generation, provides flexibility to continue repurchasing shares while making disciplined investments to support growth at both Etsy and Depop. He added that the appointment of a lead independent director strengthens corporate governance and noted Wilson's role in overseeing Etsy's prior leadership transition and his long-standing stewardship of the company.
Wilson said he is looking forward to working closely with Etsy's leadership team as the company enters its next phase of growth.
Wilson, founder and partner of Union Square Ventures, has served on Etsy's board since 2007 and brings extensive experience in corporate governance, technology strategy, and scaling growth-stage companies.
ETSY closed at $52.86, down 1.66%, and is currently trading 2.93% higher at $54.40 in pre-market trading on the NYSE.
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