Juul Labs (JUUL) is taking action in the face of intense scrutiny from federal regulators.
In addition to replacing its CEO with an Altria (NYSE:MO) exec, Juul is suspending all broadcast, print and digital product advertising in the U.S. The company will also refrain from lobbying the Trump Administration on its draft guidance and committing to fully support and comply with the final policy when effective.
Juul referenced “adult” smokers several times in its press release, making it clear that teenagers won’t be the targeted consumer in the future.
Juul’s new CEO knows a thing or two about strategy, having been the top exec for Altria’s strategic and innovative growth priorities over the last several years.
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