Juul CEO Exits; Altria, Philip Morris End Talks in Vaping Fallout
Posted on AllSides September 25th, 2019
From The Center
The leader of e-cigarette startup Juul Labs Inc. abruptly exited and two tobacco giants abandoned their blockbuster merger, as the regulatory pressure to combat underage vaping swept through the industry.
Juul, which is the target of several federal investigations, said Chief Executive Kevin Burns was replaced Wednesday by an executive at tobacco giant Altria Group Inc., MO -0.42% which owns a 35% stake in the e-cigarette maker.
The San Francisco company, which faces a potentially crippling U.S. ban on most of its products, cited the need to focus on regulatory...
Some content from this outlet may be limited or behind a paywall.
AllSides Media Bias Rating: Center
