Pinterest’s Ben Silbermann steps down as chief executive.

Ben Silbermann, a founder and chief executive of Pinterest,

from the top job on Tuesday after more than a decade of running the digital pinboard service and taking it public.

Pinterest did not give a reason for the change. Mr. Silbermann, 39, will become executive chairman. Bill Ready, who has run divisions within PayPal and Google, was appointed Pinterest’s new chief executive.

Mr. Silbermann helped found Pinterest in 2010 and…