Dollar Shave ClubMichael Dubin, who founded Dollar Shave Club in 2011, is leaving the direct-to-consumer brand as its top executive.
Jason Goldberger, the CEO of kitchen retailer Sur La Table, is set to take the reigns at the Unilever-owned brand starting Jan. 19, the company told Business Insider.
Dollar Shave Club has been touted as one of the biggest direct-to-consumer success stories in personal care, challenging established players like Procter & Gamble's Gillette alongside Harry's and similar brands.
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Dollar Shave Club CEO Michael Dubin will step down later this month after roughly a decade after he founded it, the company confirmed to Business Insider.
Dubin is set to leave the direct-to-consumer razor and personal care brand on January 19. His replacement will be Jason Goldberger, who currently serves as the CEO of Sur La Table.
Read more: Razor maker Harry's CEO explains why it's on the acquisition hunt and getting into cat food after its hopes of being acquired by Schick's parent company fell through
Goldberger has led Sur La Table through a bankruptcy spurred by the pandemic in recent months. The kitchen retailer reached a deal to emerge from bankruptcy in August, though with a smaller store footprint thanks to a drop-off in foot traffic at its physical stores.
Dubin will stay on as a special advisor and member of the Unilever-owned brand's board, according to a statement. He had previously told the board about his interest in moving on from Dollar Shave Club, but only after the company had found a replacement, Sunny Jain, president of Unilever Beauty and Personal Care, said.
"Jason is a proven leader and experienced CEO who has demonstrated a strong track record leading brands and driving growth and the business is on an exciting upward trajectory," Jain said in the statement. "I couldn't be more confident in the future of Dollar Shave Club than I am right now."
"Leading DSC has been the ride of a lifetime," Dubin said. "I'm filled with gratitude for the myriad of people who have helped make this such a special place and brand, and I'm excited to stay involved."
The CEO switch comes 10 years after Dubin founded Dollar Shave Club. Under his leadership, the company started marketing razors at a fraction of the price charged by established players such as Procter & Gamble's Gillette and Edgwell's Schick. Dubin himself appeared in early ads for the company, making an appeal for its cheaper razors.
His efforts led to Dollar Shave Club's sale to Unilever, announced in 2016. Several other razor startups, from Harry's to Billie, which makes razors for women, have also tapped into the market, though neither has successfully completed a deal with a larger player.
Regulators in China have initiated an anti-monopoly investigation into Alibaba (NASDAQ: BABA), bringing yet another major challenge to the e-commerce giant. Fundamental analysis: The crackdown continues Chinese regulators announced an investigation against Jack Ma’s company over alleged monopolistic practices. Alibaba’s fintech affiliate, Ant Group, was also summoned by the People’s Bank of China, China Banking Regulatory Commission, and China Securities Regulatory Commission and State Administration of Foreign Exchange, for “supervisory and guidance” talks. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. Ant Group, the owner of the largest digital payment platform Alipay, stated it would “diligently study and strictly comply with regulatory departments’ requests”. The e-commerce company has already been warned by Chinese regulators for asking merchants to sign exclusive cooperation agreements which keep them from providing their products and services to other platforms. Attempts to prevent monopolistic and anti-competitive practices are “requirements for improving the socialist market economy system and promoting high-quality development”, said the editorial in the People’s Daily. “This investigation does not mean that the country’s attitude towards the encouragement and support of the platform economy has changed.” It appears that China is determined to curb the fast-growing
President Joe Biden waves after being sworn in during his inauguration on the West Front of the U.S. Capitol on January 20, 2021 in Washington, DC.
Major industry figures, including the CEOs of Apple and Google, congratulated the president, and many welcomed the slew of executive orders Biden started signing on Wednesday, which reversed various policies from former President Donald Trump.Tech leaders focused on Biden's promises to reform climate change and immigration policy, particularly his executive order protecting people brought to the US illegally as children, sometimes known as "dreamers" - although some major figures, including Facebook's CEO Mark Zuckerberg, stayed notably silent.Bill Gates praised Biden and put climate change top of his list. Microsoft founder Bill Gates.
"I look forward to working with President @JoeBiden and Vice President @KamalaHarris to tackle some of our toughest challenges like COVID-19 and climate change. This has been a troubling time in America, but I see promise in the months and years ahead," Microsoft founder Bill Gates tweeted.
"The President's commitment to reengage with the world gives me hope that the recovery will reach everyone, including communities of color in the US and people in poor countries around the world," Gates said.
"And while COVID-19 will rightfully continue to dominate the agenda, the United States also has the opportunity to lead the world in avoiding a climate disaster. The President is taking a great first step by rejoining the Paris Climate Accord," he added.
Trump first announced he was withdrawing the US from the Paris Climate Accord in 2017, and the formal withdrawal finally happened in November 2020.
Google CEO Sundar Pichai applauded Biden for taking action on COVID-19 relief, climate change, and immigration. Google CEO Sundar Pichai.
Stephanie Keith/Getty Images
"We applaud @POTUS's quick action on COVID relief, the Paris Climate Accord, and immigration reform," Pichai tweeted.
"Google has supported action on these important issues & we look forward to working with the new administration to help the US recover from the pandemic + grow our economy."
Biden proposed sweeping immigration reforms during his first day in office. This included lifting Trump's travel ban from predominantly Muslim countries including Iran, Iraq, Libya, and Somalia (the ban is often referred to as the "Muslim ban").
Biden also signed an executive order protecting the Deferred Action for Childhood Arrivals (DACA) program, which offers citizenship to people illegally brought to the US as children — who are sometimes referred to as "dreamers."
Google already expressed public support for this policy, and earlier this month pledged $250,000 to an organisation that helps dreamers settle in the US.
Apple's CEO Tim Cook did the same. Apple CEO Tim Cook.
Karl Mondon/Digital First Media/The Mercury News via Getty Images
"Congratulations to President Biden and Vice President Harris on this historic day. Inspired by your vision of unity and your immediate actions on climate change, immigration and COVID-19. One nation, indivisible," Cook tweeted .
In a statement shared with The Verge, Cook praised Biden's immigration reform and DACA in particular.
"We welcome President Biden's commitment to pursuing comprehensive immigration reform that reflects the American values of justice, fairness and dignity. This effort will strengthen American communities and the pathways to opportunity this country has long fostered," he said.
"In the weeks and months to come, business leaders look forward to working with the Administration, as well as Democrats and Republicans in Congress, to achieve bipartisan, practical and comprehensive solutions to fix our broken immigration system, including a permanent solution for Dreamers that includes a path to citizenship," he added.
Netflix's co-CEO Reed Hastings took a shot at Trump. Netflix co-CEO Reed Hastings.
Ernesto S. Ruscio/Getty Images / Netflix
Rather than congratulating Biden and Harris, Hastings appeared to take a swipe at Trump.
Hastings posted a quotation from Trump's own 2017 inaugural address, in which Trump thanked former President Barack Obama and Michelle Obama for their "gracious aid" in the peaceful handover of power.
—Reed Hastings (@reedhastings) January 20, 2021
This appears to be a jibe at Trump, who refused to acknowledge Biden's win for months following the outcome of the election.
Hastings was a major donor to the Democratic Party during the election, giving more than $5 million to Democratic PACs.
Salesforce's CEO was full of blessings. Salesforce CEO Marc Benioff.
NICHOLAS KAMM/AFP via Getty Images
"Congrats President Biden & Vice President Harris! The Lord bless you and keep you; the Lord make his face shine on you and be gracious to you; the Lord turn his face toward you and give you and our nation peace," Salesforce's CEO Marc Benioff tweeted.
—Marc Benioff (@Benioff) January 21, 2021
Amazon's CEO Jeff Bezos did not publicly congratulate Biden, although Amazon offered to help with the vaccine rollout. Amazon CEO Jeff Bezos.
Andrej Sokolow/picture alliance via Getty Images
Bezos' second-in-command and Amazon's head of consumer business Dave Clark sent a letter to Biden on Wednesday shortly after he was sworn in.
"We are prepared to leverage our operations, information technology, and communications capabilities and expertise to assist your administration's vaccination efforts," he wrote.
Although Jack Dorsey didn't personally congratulate Biden, Twitter also praised the president's immigration reform. Twitter CEO Jack Dorsey.
"The @POTUS DACA Executive Order signed this evening delivers hope for #Dreamers. Diversity makes the US, our company, and our world better — we'll continue to advocate for policies that support and recognize the important contributions of immigrants," the company tweeted from its official public policy account.
Facebook's CEO Mark Zuckerberg and Tesla's CEO Elon Musk did not issue any public statements. Tesla CEO Elon Musk (left) and Facebook CEO Mark Zuckerberg.
Susan Walsh/AP; Erin Scott/Reuters
Neither Zuckerberg nor Musk — who at time of writing is the world's richest person — put out any kind of public statement about Biden's swearing in.
It's particularly notable that Musk did not give any statement on the US re-entering the Paris Climate Accord, as the Tesla billionaire quit a White House advisory council in 2017 after President Trump's withdrawal from the agreement.
"Climate change is real. Leaving Paris is not good for America or the world," Musk tweeted at the time.
Facebook's COO Sheryl Sandberg congratulated Vice President Harris on becoming the first woman vice president. Matt Winkelmeyer/Getty Images for Vanity Fair
"One day, it won't be so momentous. One day, watching a woman raise her hand and take the oath of office as our vice president won't make me cry," Sandberg wrote in a Facebook post.