Dollar Shave Club names new CEO after founder steps down

Dive Brief:

Dollar Shave Club on Monday named Jason Goldberger its new CEO effective Jan. 19, according to a press release.
Founder and current CEO Michael Dubin will step down but remain at the company as a special adviser and board member.
Goldberger was CEO of kitchen retailer Sur La Table for a little more than a year, during a time when that retailer was navigating through bankruptcy, according to his LinkedIn profile. He will report to Unilever North America President Fabian Garcia as its subsidiary.

Dive Insight:

Dollar Shave Club is the latest among a string of direct-to-consumer brands whose CEOs have taken a step back.

In recent years, multiple DTC founders have either given up the CEO role or opted for smaller positions. Former Away co-CEO Steph Korey stepped down after employee allegations regarding a toxic workplace culture. Outdoor Voices founder Tyler Haney resigned last year after she was reportedly forced to step down as CEO amid financial struggles.

Dubin, who starred in the brand's viral commercials, founded the company in 2011 with the idea of selling high-quality razors for only a dollar a month. He stayed on as CEO when Unilever acquired Dollar Shave Club for $1 billion in cash in 2016.

Consumer product corporations, like Proctor & Gamble and Edgewell, in recent years have attempted to acquire shaving brands Billie and Harry's respectively, both of which cater to younger consumers. However, the Federal Trade Commission blocked both attempts to keep the industry competitive.

Almost two years ago, Dollar Shave Club began expanding its products into different personal grooming categories. In addition to razors, the brand now sells tubes of toothpaste, colognes and deodorants.

Goldberger joined the company in an era where brands have adapted more robust omnichannel retail strategies as the pandemic shifted the methods shoppers use to purchase products. Goldberger brings his knowledge of digital and retail spaces. He has previously worked at Target, Amazon, Gilt and served as CEO of jeweler Blue Nile.