Juul plans to lay off 500 employees and CFO and CMO leave in executive reshuffle while the company prepares for a possible federal ban on its flavored vapen
- Juul Labs has announced a rescheduling of its top managers on Tuesday
- CFO Tim Danaher and CMO Craig Brommers are leaving the company
- The company is also reportedly planning to lay off no fewer than 500 employees
- Juul has already suspended the advertising and sale of vape pod with a fruity taste
- New CEO acknowledges that the sheep industry has a & # 39; necessary reset & # 39; undergoes
- The company criticizes its alleged popularity among teenagers
Juul & # 39; s new CEO K.C. Crosthwaite (above) is in the process of rearranging companies
Two top managers are at Juul Labs because the e-cigarette company says it is firing up pending a possible ban on flavored products that had earned the majority of its sales.
The departure of Chief Financial Officer Tim Danaher and Chief Marketing Officer Craig Brommers on Tuesday is just a few weeks after Juul has suspended advertising and stopped selling his mango, cream, fruit and cucumber pods, awaiting the FDA rating.
The company will also reduce 10% to 15% of its workforce by the end of the year as part of a comprehensive reorganization under the new CEO K.C. Crosthwaite, a former director with major shareholder Altria.
"Since the vapor category is undergoing a necessary reset, this reorganization will help JUUL Labs to focus on reducing minors' use, investing in scientific research and creating new technologies while deserving of a license to operate in the US and throughout world, "Croswaite said in a statement to DailyMail.com on Tuesday.
Juul has suspended the sale of fruity aromas pending the FDA assessment, but continues to sell tobacco and menthol aromas that it markets as smoking cessation aids
Juul, by far the most popular e-cigarette manufacturer in the United States, is startled by concerns about the strong appeal of its nicotine products to teenagers.
The company's colorful advertisements have been slammed by regulators, legislators, and advocates-general about their part in the towering use of e-cigarettes among teenagers.
Danaher, who has been CFO for five years, will be replaced by insider Guy Cartwright, while the role of marketing chief will end, a company spokesperson said.
Ashley Gould, head of administrative assistant and David Foster, is also leaving, he added.
Juul Chief Financial Officer Tim Danaher and Chief Marketing Officer Craig Brommers left the company Tuesday as part of the shake-up
Crosthwaite replaced Kevin Burns last month and took over the top course when the merger talks between Altria and Philip Morris collapsed.
The US Food and Drug Administration warned Juul in September that it was misleading consumers by marketing its USB-like e-cigarettes as safer than cigarettes, and asked for additional information about the nicotine mix.
Shortly thereafter, the Trump government announced plans to ban all flavored e-cigarette products, citing the alarming growth in teenage use.
Crosthwaite has said that Juul will refrain from lobbying the Trump government about the proposed ban on taste.
Juul said in a statement that all employees affected by redundancy pay and their proportional eligible bonuses will receive.
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