Chad Dickerson etsy
Etsy CEO Chad Dickerson Stephen Lovekin/Getty Images

ETSY Etsy

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Etsy announced Tuesday that its CEO Chad Dickerson will step down from the role on Wednesday.

Josh Silverman, a board member, will replace Dickerson as chief executive of the online marketplace for hand-made goods.

“In the six months that Josh has been on our Board, we have gotten to know him well and he has gotten to know us well,” said Fred Wilson, the incoming chair of the board succeeding Dickerson. “That will make for an easier transition and faster execution.”

John Allspaw, the chief technology officer, is leaving the company.

Etsy also announced that it expects to eliminate about 80 jobs, or 8% of its workforce.