Ben Silbermann will step down as CEO of the popular image and link-sharing service after 12 years.
After the news of Silbermann's departure was reported, the stock price of the company increased by more than 8%. The initial pop may have been a sigh of relief for some investors who have been watching the stock decline. Maybe it is a vote of confidence for Bill Ready, the new chief executive of Pinboard.
There will be a goal to increase the number of women in the leadership ranks of the company. Another man will be in charge of a service that is popular with women.
Ready was most recently in charge of the shopping and payments efforts at the search engine. Ready was the chief operating officer atPayPal and before that, he was the CEO of Braintree. Ready is a board member of Williams-Sonoma, which sells pricey copper pots and pans. The incoming executive has a lot of experience in payments and shopping software.
Silbermann said that they were focused on helping Pinners buy, try and act on all the great ideas they saw. As the first executive chairman, the co-founder will stay.
Back in October of 2021, it was reported that PayPal was interested in buying pinsy. The firm said in a note to investors that it was not pursuing an acquisition at that time.
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