One day after announcing that it will cut about 500 jobs, four top executives reportedly stepped down from Juul on Tuesday
Chief Financial Officer Tim Danaher, Chief Administrative Officer Ashley Gould, Chief Marketing Officer Craig Brommers and Senior Vice President of Advanced Technologies David Foster all voluntarily left their roles at the e-cigarette manufacturer, CNBC reported.
The company named Guy Cartwright its new chief financial officer, according to business news network.
“Over the past 3 months, Guy has been instrumental in helping us define our financial priorities and identify opportunities for efficiency,” a spokesman told CNBC in a statement.
The company eliminated the chief marketing officer position outright and it is unclear whether it will immediately replace Foster and Gould, CNBC noted.
The company’s co-founders, Adam Bowen and James Monsees, will reportedly transition from their respective positions of chief technology officer and chief product officer to join a new “founders office” where they will advise CEO K.C. Crosthwaite.
“As the vapor category undergoes a necessary reset, this reorganization will help JUUL Labs focus on reducing underage use, investing in scientific research, and creating new technologies while earning a license to operate in the U.S. and around the world,” Crosthwaite, who took office last month, said in a statement.
On Tuesday, Crosthwaite told The Wall Street Journal the company cut the 500 jobs as part of its focus on reinvesting in international markets and earning a U.S. license amid a series of setbacks for the e-cigarette industry.
The company has added hundreds of employees in 2019 but imposed a hiring freeze shortly after Crosthwaite became CEO.
--Updated at 2:26 to clarify the company executives left Juul voluntarily.