Who is e-cigarette maker Juul's new CEO?
Juul Labs appointed Altria executive K.C. Crosthwaite as its new CEO on Wednesday, replacing Kevin Burns effective immediately.
So who exactly is the executive tasked with guiding the e-cigarette maker through a period of mounting public concern over the addictiveness and health effects of vaping?
Crosthwaite was the chief growth officer at Altria Group, where he oversaw the company's expansion into e-cigarettes and helped with the U.S. launch of IQOS, a tobacco heating system, according to a statement from Juul. In November, Altria purchased a 35 percent stake in Juul for $12.8 billion.
Before becoming Altria's chief growth officer, Crosthwaite was president and CEO of Philip Morris USA from April 2017 to June 2018. He has worked in the tobacco industry since graduating from Marquette University in 1997.
"I have long believed in a future where adult smokers overwhelmingly choose alternative products like Juul," Crosthwaite said in the statement.
"That has been this company's mission since it was founded, and it has taken great strides in that direction," he added. "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."