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Crosthwaite now chairman at Juul

29 Jul 2020. Juul Labs Inc. has appointed CEO K.C. Crosthwaite chairman and hired Teresa Sebastian as the company’s first Black member of the board, reports Bloomberg News.

Crosthwaite will become chairman at the board’s request succeeding co-founder and the company’s first chairman Adam Bowen who will now head up the product committee.

As part of Juul’s management overhaul which also seeks to diversify its ranks, Teresa Sebastian will join the board as its first Black member. According to Bloomberg News, Juul had already added the first female board member to the eight-person board with Canadian Health Minister Rona Ambrose back in May.

Sebastian is chief executive officer of The Dominion Asset Group and will serve as an independent director heading up Juul’s audit committee. Sebastian is on two other boards and teaches various courses at the University of Michigan and Vanderbilt University and will help Juul to ensure it has financial discipline, reports Bloomberg News.

“We are all aware that our company is entering a critical period. With the support and oversight of our increasingly robust board, we will deliver our first PMTA submissions to the FDA, while continuing the work of combating underage vaping and transitioning adult smokers all around the world from combustible cigarettes,” Crosthwaite said.