Etsy (NASDAQ:ETSY) shares surged early on Thursday after the company appointed Marc Steinberg, partner at activist firm Elliott Investment Management, to its board, effective February 5.
Etsy shares are up more than 9% at $73.10 per share at the time of writing. It closed Wednesday's session at $66.56.
"Marc brings unique and valuable experience as an investor and board member in the technology, digital media, and e-commerce industries," said Josh Silverman, Etsy's Chief Executive Officer. "We've gotten to know Marc, and appreciate his passion for Etsy's mission and excitement about the future growth opportunities for all of our stakeholders."
In his role at Elliott, Steinberg is responsible for public and private equity investments across various industries, including the technology, media, and telecommunications sectors. Etsy said Steinberg will also join the board's audit committee.