Grove Collaborative Appoints New CEO to Drive Sustainable Growth and Innovation

Discover Grove Collaborative's Exciting CEO Transition and Sustainable Growth Journey with Jeff Yurcisin at the Helm

Leadership Changes

CEO Transition

In a strategic move to enhance its future growth and market expansion initiatives, Grove Collaborative Holdings, Inc. (GROV) has announced significant leadership changes. After a successful decade of guiding the company since its inception in 2012, Stuart Landesberg will step down as CEO on August 16, 2023, transitioning to the role of Executive Chairman of the Board. Mr. Landesberg will continue to steer strategic directions, capital markets, and corporate development among other responsibilities.

Enter Jeff Yurcisin as the New CEO

Effective from the same date, August 16, 2023, Grove Collaborative welcomes Jeff Yurcisin as its new CEO. Jeff Yurcisin brings a wealth of experience as the former CEO of direct-to-consumer brands Zulily and Shopbop, coupled with his extensive tenure as an executive at Amazon. With this appointment, Mr. Yurcisin will also join Grove's Board of Directors.

A Vision for Transformation

Jeff Yurcisin's leadership marks a new chapter for Grove Collaborative, one that strives to revolutionize the consumer products industry to foster positive impacts on both human health and the environment. The company's vision encompasses sustainable product innovation, customer-centricity, and market expansion, all aimed at driving profitable growth while embracing eco-friendly practices.

Words from Stuart Landesberg

Reflecting on the transition, Stuart Landesberg expressed his excitement about welcoming Jeff Yurcisin as the new CEO. He commended Yurcisin's leadership prowess and customer-centric approach, highlighting his capability to drive Grove's sustainable growth and impact forward.

Jeff Yurcisin's Proven Track Record

Jeff Yurcisin's credentials are impressive. He has previously steered the growth of billion-dollar brands and has consistently demonstrated his commitment to sustainability. His expertise in leading brands like Shopbop and Zulily through significant challenges, including the pandemic, underscores his capacity to navigate complex market landscapes.

Investment in Sustainability

In conjunction with Mr. Yurcisin's appointment, Grove Collaborative has granted him inducement awards, solidifying his alignment with the company's vision. These awards consist of restricted stock units (RSUs) and performance-based restricted stock units (PSUs) to incentivize his contributions.

Board Evolution

The transition also brings changes to the company's Board of Directors. Jeff Yurcisin joins the board, while Stuart Landesberg takes on the role of Executive Chairman. These changes signify a renewed focus on driving Grove Collaborative's mission forward.

A Word from Larry Cheng

Larry Cheng, managing partner and co-founder of Volition Capital, which recently invested $10 million in Grove, expressed his enthusiasm about collaborating with the company. He commended Grove's mission and commitment to making a positive impact on both the environment and shareholders.

As Grove Collaborative enters this new phase, its trajectory is set for transformation and sustainable growth under the leadership of Jeff Yurcisin. The company's commitment to innovation, sustainability, and customer-centricity is poised to reshape the consumer products industry.

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