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Jules announced the resignation of CEO Kevin Burns and suspended all advertising in the United States. According to the wall street journal, on the night of September 25, Kevin burns, chief executive officer of Juul, the us lookah glass dab rig brand, announced his resignation and k c crosswaite, senior executive officer of altria, took over.
At the end of 2018, Altria announced that it would invest 12.8 billion US dollars in Jules and acquire 35% of the shares. However, since Juul was regulated by FDA and the states in April this year, Altria's market value has fallen by 30 billion US dollars, equivalent to Juul's valuation. The chief executive's dismissal may also be related to the recent US regulation of glass bong king.
Clenbuter is Altria's chief business growth officer and is responsible for the company's expansion into tobacco products.
In January 2018, Kevin Burns succeeded Taylor Goldman Sachs as Jules' new CEO.
Kevin burns has been a partner of TPG capital for more than 12 years. TPG Capital is one of the world's largest private equity investment companies, focusing on leveraged buyouts, growth capital and leveraged capital restructuring, investing in troubled companies and turning losses into profits. He holds a bachelor's degree in mechanical and metallurgical engineering from the University of Connecticut and a master's degree in business administration from wharton school.
Burns' dismissal may be related to Jules' recent encounter with water pipes for sale supervision in the United States. Jules was criticized for allegedly selling glass bong king to minors. At present, Michigan, San Francisco, New York and other states have announced that they will ban fragrant glass bong king, and the Trump government has also announced that it will cooperate with FDA to launch the glass bong king ban.
Yoel's challenges include the California federal prosecutor's criminal investigation into the allegations and issues regarding the safety of Glassbone King, prompting Massachusetts to impose a temporary ban on all Glassbone King products on Tuesday.
Jules Laboratory said in a statement that Crosswell will continue to conduct extensive reviews of the company's business practices and policies to ensure that they meet the company's goal of becoming a responsible leader in the glass bong king industry.
Jules Laboratory also announced today that it will suspend all broadcasting, printing and digital product advertising in the United States. In addition, the company will not lobby the Trump government about the upcoming policy of withdrawing seasoned lookah seahorse coil king from the market. On the contrary, Juul Laboratory will follow the final policy when it comes into effect.