Fashion Resale Marketplace Poshmark announced Monday that its founder, Manish Chandra, has resigned as CEO. Nam-seung Kim, who has served as executive chairman since April, has been appointed his successor.
Chandra founded Poshmark in 2011 along with three co-founders in a Silicon Valley garage. Under his leadership, the company was published and acquired by Naver in 2022, and has grown to 150 million users to date.
Almost 15 years later, he will transition to becoming a member of the board of directors.
In an email sent to the user, Chandra wrote: “To lead this company was the greatest honor of my professional life. All the successes we achieved, all the challenges we overcome were thanks to you. It was a lifelong privilege to witness each of you. Together.”
Kim comes from Naver, who is now the president of investments. According to Chandra, Kim has been working with the founders since the beginning of this year to ensure that the transition is “as smooth as possible.”