Poshmark CEO and founder to step down

Poshmark, the popular fashion resale platform, made headlines on Monday with the announcement that its founder, Manish Chandra, will be stepping down from his role as CEO. Namsun Kim, who has been serving as the executive chairman since April, has been chosen as Chandra's successor. Chandra, who established Poshmark in 2011 alongside three co-founders in a Silicon Valley garage, has played a pivotal role in the company's remarkable journey. Under his guidance, Poshmark went public and was acquired by Naver in 2022, amassing an impressive user base of 150 million. After nearly 15 years at the helm, he will transition to a position on the board of directors. In a heartfelt message to users, Chandra expressed his gratitude, stating, “Leading this company has been the greatest honor of my professional life. Every success we’ve achieved, every challenge we’ve overcome, has been because of you. It’s been the privilege of a lifetime witnessing each of you grow, and it has truly inspired me every single day. From the bottom of my heart, thank you.” Namsun Kim, who previously held the position of president of investments at Naver, has been collaborating with Chandra since the start of the year to ensure a seamless leadership transition, as highlighted by Chandra himself.