Manish Chandra will step down as CEO of fashion resale marketplace Poshmark in October after nearly 15 years building and leading the company.

Chandra will transition into a strategic role on the company’s board of directors on October 1. Namsun Kim, who is currently the company’s executive chairman, will take over as CEO.

Chandra founded Poshmark in February 2011 and has been the firm’s CEO since. He has led the company through significant growth, including building a diverse global employee base, forming a community of over 150 million entrepreneurs, and taking the company public on the Nasdaq stock exchange.

His leadership concludes as Poshmark’s integration into Naver Corp is complete. The South Korean internet company acquired all of the issued and outstanding shares of Poshmark for approximately $1.2 billion in early 2023. 

“It has been the honor and privilege of a lifetime leading Team Posh, our incredible community of shoppers and sellers, and the resale revolution,” said Chandra. 

“I’m immensely proud of what we’ve accomplished together – the innovations we’ve introduced, the relationships we’ve built, and the impact we’ve made.”

Kim is the president of investments at Naver, overseeing global strategic and venture capital investment initiatives. He became Poshmark’s executive chairman in April as part of the acquisition and has been providing strategic guidance to help strengthen the company’s operational efficiency.