Grove Collaborative Holdings, Inc. announced leadership changes to align the Company more closely with future growth and market expansion initiatives. CEO Transition: After co-founding Grove Collaborative in 2012 and successfully leading the Company for over a decade, Stuart Landesberg will step down as CEO effective August 16, 2023 to become the Company?s Executive Chairman of the Board. Mr. Landesberg will continue to oversee strategy, capital markets, and corporate development among other things.

Jeff Yurcisin, former CEO of direct to consumer brands Zulily and Shopbop, and a long time Amazon executive, has been appointed the Company?s new CEO, effective August 16, 2023. Mr. Yurcisin will also join Grove?s Board of Directors. As CEO of Grove, Mr. Yurcisin will oversee the Company?s next chapter ?

to transform the consumer products industry to be a positive force for human and environmental health, and to drive profitable growth rooted in sustainable product innovation, customer-centricity and market expansion initiatives and identifying new opportunities. Mr. Yurcisin is a proven direct to consumer CEO who has built and led multiple billion-dollar brands and has a passion for doing what?s right. He believes deeply in Grove?s mission to move the consumer products industry Beyond Plastic and is passionate about the role the private sector can play in sustainability.

Before Grove, Mr. Yurcisin had succeeded two founders as CEO at Shopbop and Zulily and served in multiple senior executive roles at Amazon, where he led Amazon?s global efforts on Private Brands and Apparel. His team spearheaded Amazon?s push into its own brands and was responsible for the end-to-end product development and performance of those brands. Earlier in his career, Mr. Yurcisin served as CEO during Shopbop?s accelerated growth from startup to leading fashion boutique worldwide.

Their revenue growth was largely driven by using tech to deliver a superior customer experience. Mr. Yurcisin recently led the team at Zulily for four years through the pandemic and launched a customer promise that guaranteed Zulily customers would receive greater value than from Amazon or Walmart. He most recently worked as an Executive in Residence at Madrona Venture Group where he helped entrepreneurs turn their ideas into fast growing businesses.

He also serves on the Advisory Board of Fred Hutch Cancer Center, one of the world?s leading cancer research organizations. Mr. Yurcisin earned his bachelor?s degree in economics from Princeton University and graduated with honors from Harvard Business School. Board Updates: Mr. Yurcisin has been appointed to the Board, and Mr. Landesberg has been named Executive Chairman of the Board, succeeding former Seventh Generation and Burt?s Bees CEO, John Replogle, who will serve as the Board?s Lead Independent Director.

In its FY23 Second Quarter earnings release, Grove announced a $10 million investment from Volition Capital (?Volition?), a leading growth equity firm. Larry Cheng, managing partner and co-founder of Volition, joined Grove?s Board of Directors. Mr. Cheng, who most notably led Volition?s early investment in online pet supply retailer, Chewy, also serves on several other boards including the Board of Directors at GameStop where he has helped drive their transformation.

At Volition, Mr. Cheng focuses on Internet and consumer investing. Mr. Cheng currently sits on the boards of Arteza, Burst Oral Care, Duffl, GameStop, Recycle Track Systems (RTS), Rounds, Sensible Care, Super73 and US Mobile. He also led investments in Chewy, Connatix, Cortera, Dragonfly Commerce, Globaltranz, Mindshift Technologies, OpenNetwork Technologies, Prosper Marketplace, Stylesight, Verid and Ximian.

Prior to founding Volition, Mr. Cheng also worked at Fidelity Ventures, Battery Ventures, Bessemer Venture Partners and Corporate Decision, Inc.