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JUUL Labs Names New Leadership, Outlines Changes to Policy and Marketing Efforts – JUUL Newsroom
JUUL Labs announced today that K.C. Crosthwaite will be joining the company as CEO effective immediately. The announcement from co-founders James Monsees, Adam Bowen and Kevin Burns follows Burns’ decision to step down.
[...]In his new role, Crosthwaite and the entire JUUL Labs leadership team will continue a broad review of the company’s practices and policies to ensure alignment with its aim of responsible leadership within the industry. Effective immediately, JUUL Labs announced the company is:
- Suspending all broadcast, print and digital product advertising in the U.S.
- Refraining from lobbying the Administration on its draft guidance and committing to fully support and comply with the final policy when effective
Commenting on the announcement, Crosthwaite said: “I have long believed in a future where adult smokers overwhelmingly choose alternative products like JUUL. That has been this company’s mission since it was founded, and it has taken great strides in that direction. 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. That includes inviting an open dialogue, listening to others and being responsive to their concerns.”
Burns said: “Working at JUUL Labs has been an honor and I still believe the company’s mission of eliminating combustible cigarettes is vitally important. I am very proud of my team’s efforts to lead the industry toward much needed category-wide action to tackle underage usage of these products, which are intended for adult smokers only. Since joining JUUL Labs, I have worked non-stop, helping turn a small firm into a worldwide business, so a few weeks ago I decided that now was the right time for me to step down. I am grateful to be able to confidently hand the reins to someone with K.C.’s skill set, which is well-suited to the next phase of the company’s journey.”
Further, CNBC reports Philip Morris and Altria End Merger Talks:
[Phillip Morris (PMI)] and Altria have called off discussions to reunite the tobacco giants after more than decade apart.
PMI's announcement on Wednesday helped boost its shares by more than 7% in premarket trading, bringing its market value to $111.3 billion. Shares of Altria gained nearly 2% to a market cap of around $76 billion.
[...]The companies[...]now say they will focus on jointly launching IQOS a heated tobacco product, in the United States.
"After much deliberation, the companies have agreed to focus on launching IQOS in the U.S. as part of their mutual interest to achieve a smoke-free future," PMI CEO Andre Calantzopoulos said.
The IQOS device heats tobacco to release flavorful nicotine-containing tobacco vapor but without burning the tobacco.
(Score: 0) by Anonymous Coward on Thursday September 26 2019, @12:08AM
Agree with what, exactly?
Telling folks to fuck off won't enhance his eventual payout, will it?
However, making self-serving claims about how Juul is making the world a better place and "protecting" kids while they do it might do the trick.
When looking for motivation in situations like this (and many others), it's best to "follow the money." That usually leads to a pretty good approximation, IMHO.
I'm sure everything he said was triple-vetted by Marketing and Legal so as to paint the halo over Juul and ensure that nothing could be used to negatively impact the company.
And so I return to the phrase "mealy-mouthed and self-serving."
Like I said, this is an old tactic with a long and ignominious tradition.