Juul Labs CEO to Step Down After Vaping Backlash
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Juul Labs Inc. named a new top executive and vowed to end advertising and lobbying that had raised the ire of lawmakers, health officials and parents, as the highly valued private e-cigarette company confronts a growing public backlash.
The company said in a statement that Chief Executive Officer Kevin Burns will step down, to be succeeded by former Altria Group Inc. executive K.C. Crosthwaite, effective immediately. Crosthwaite had previously served as chief growth officer at the Marlboro maker, which took a $12.8 billion stake in Juul last year, and served as Altria’s observer on Juul’s board.