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Pinterest co-founder Ben Silbermann is stepping down as CEO of the popular image and link sharing service after 12 years.

After Silbermann’s departure, Pinterest’s stock price rose more than 8% in after-hours trading. That may signal a sigh of relief from some investors, who have seen Pinterest’s stock decline steadily over the past year. Or maybe it’s a vote of confidence for Pinterest’s new CEO: Google commerce boss Bill Ready.

In 2021 Pinterest announced a goal to strong increase in the number of women among its leading ranks. But this transfer of power means that another man will be put in charge of a service that… uniquely popular with women

More about this man: Ready recently oversaw Google’s shopping and payment efforts. He is also a board member of Williams-Sonoma (the place to look for expensive copper pots and pans) and payroll company ADP. Previously, Ready roamed the halls of PayPal as Chief Operating Officer. The inbound executive’s extensive history of payments and shopping software ties in seamlessly with Pinterest’s ever-expanding interested in selling stuff

“In our next chapter, we’re focused on helping Pinners buy, try, and execute on all the great ideas they see,” Silbermann said in a statement. pronunciation† The co-founder remains Pinterest’s first executive chairman.

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