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Pinterest CEO Ben Silbermann is stepping down and the stock is up

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Ben Silbermann, CEO and Co-Founder of Pinterest.
Horacio Villalobos | Getty Images

Longtime Pinterest CEO Ben Silbermann is stepping down, the company announced Tuesday.

Shares jumped more than 7% in after-hours trading.

Bill Ready, who was previously in charge of Google’s commerce business, is taking over the helm, effective Wednesday.

This is breaking news. Please check back for updates.

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