Beckham, whose deal with Gillette comes up for renewal next year, has been the face of the brand since 2004, when he signed a three-year, £40m agreement.
However, the footballer's star has dimmed somewhat after a disappointing World Cup this summer, followed by his resignation of the England captaincy and subsequent loss of a place in the international squad.
Gillette has drawn up a shortlist of fresher-faced global sports icons to represent the brand, which is believed to exclude 31-year-old Beckham, although the brand may continue to use him in some local markets.
The Procter & Gamble-owned brand is now looking to sign up ambassadors from a variety of sports, including basketball and American football, to front future ad campaigns in the US. It also plans to unveil a new campaign logo and strapline.
Beckham is a brand ambassador for several other global brands, including Motorola, Adidas and Pepsi.
In July last year, Beckham was dropped by Vodafone, although, according to exclusive research commissioned by Marketing, he remains the world's most sponsored footballer (Marketing, 10 May).