Juul Replaces CEO, Revamps Marketing Strategy In Wake Of Bans
(CNN) -- Juul co-founder Kevin Burns is out as CEO of the embattled maker of e-cigarettes, the company announced Wednesday.
He is being replaced by K.C. Crosthwaite, who had been chief growth officer at tobacco company Altria, a major investor in Juul. In that position, he oversaw expansion into alternatives to traditional cigarettes, and played a key role with commercial and regulatory efforts related to the US launch of iQOS, a device that heats tobacco rather than burning it.
Juul and other makers of vaping products are facing a crisis due to a growing number of deaths and illnesses tied to their products. Several states are moving to ban their use.
The company also said Wednesday it has a new marketing strategy: It will suspend all TV, print and digital ads and it will stop some of its lobbying efforts.
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