Consumer
Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout
- Amazon alum Jeff Yurcisin to take the helm starting Aug. 16
- Shares down 90% since going public through SPAC last year
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Grove Collaborative Holdings is replacing its longtime chief executive officer after the seller of household essentials struggled since being taken public during the SPAC craze of the past few years.
Stuart Landesberg, who co-founded the company that would become Grove in 2012, is stepping down from his post to become executive chairman, the firm said in a statement Monday. Jeff Yurcisin, a 48-year-old Amazon.com Inc. alum, will become CEO on Aug. 16. Grove also raised $10 million by selling shares to investment firm Volition Capital through a private placement.