Poshmark’s CEO and Founder Set to Step Down

On Monday, Poshmark, the fashion resale marketplace, announced that its founder, Manish Chandra, will step down as CEO. Namsun Kim, who has been the executive chairman since April, is set to take over as his successor.

Chandra founded Poshmark in 2011 alongside three co-founders in a garage in Silicon Valley. Under his leadership, the company went public, was acquired by Naver in 2022, and has grown to 150 million users.

After nearly 15 years in charge, Chandra will move into a role on the board of directors.

In an email to users, Chandra stated, “Leading this company has been the greatest honor of my professional life. Every success we’ve celebrated and every challenge we’ve faced has been due to you. It has been a privilege to witness your growth, and you have inspired me every day. Thank you from the bottom of my heart for being the incredible community that you are, for your trust, creativity, and for all the opportunities you continue to create together.”

Namsun Kim previously held a role at Naver as president of investments. Chandra noted that Kim has been working with him since the beginning of the year to ensure a smooth transition.