On Wednesday, Juul, the largest e-cigarette company, announced that K.C. Crosthwaite will replace Kevin Burns as the company’s CEO.
Crosthwaite is the former chief executive of Altria, the largest producer and marketer of tobacco and a major investor in Juul.
Burns will step down from the post of Juul CEO because of a growing number of illnesses and deaths related to vaping and threats from regulatory bodies.
The U.S. Centers for Disease Control and Prevention (CDC) said the officials have been investigating more than 530 cases of severe respiratory disease and nine deaths related to e-cigarettes and vaping.
Juul also said that it would implement a new marketing strategy in order to combat the ongoing vaping epidemic. The e-cig company will suspend all print, TV and digital advertisements. In addition, the company said it is committed to fully cooperate, support and comply with new federal policies related to e-cigarettes.
The U.S. Food and Drug Administration (FDA) is bringing up new regulations to ban all non-tobacco flavored e-cigarettes that particularly attract children and younger adults. In fact, several states have been planning to ban vaping products altogether.
Last week, Walmart, the largest retailer, announced that it would stop
Crosthwaite said, “I have long believed in a future where adult smokers overwhelmingly choose alternative products like Juul. Unfortunately, today that future is at risk due to unacceptable levels of youth usage and eroding public confidence in our industry. Against that backdrop, we must strive to work with regulators, policymakers and other stakeholders, and earn the trust of the societies in which we operate.”
E-cigarettes are considered a safer form of smoking than conventional cigarettes. And Juul has been the market leader so far. Since 2018, the weekly sales of Juul have tripled; however, in March 2019, there was a brief fall in their sales. And in July 2019, the sales began to fall because health issues related to vaping started to surface.
Incorporated in 2015, Juul was co-founded by Adam Bowen and James Monsees.
Juul appointed Burns as its CEO in 2017. He was the chief operating officer and president of Chobani, the America’s number one Greek yogurt manufacturer. “Kevin transformed our start-up into a global business, and we are incredibly grateful for his commitment to and passion for our mission,” said Juul founders.
