|
 Joe Murillo is the first big hire by Juul's new chief executive
officer, K.C. Crosthwaite, who himself moved over from Altria last
week.
Altria owns a 35.5% stake in Juul, which last week said it would
suspend all advertising in the United States where the Trump
administration has announced plans to remove all flavored
e-cigarettes from store shelves to rising popularity among
teenagers.
In his new role, Murillo will help guide the applications that Juul
must submit by May to the U.S. Food and Drug Administration for any
products it wants to keep on the market beyond that point,
Crosthwaite said in an emailed statement.
"The company is fully committed to supporting and complying with
FDA's final effective flavor policy and to working through the PMTA
(premarket tobacco product application) process – a process Joe
understands well and one he will help lead JUUL Labs through,"
Crosthwaite said.
"We invite an open dialogue, will listen to others and will be
responsive to their concerns," he added.
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The FDA last month warned the company about marketing its products
as safer than traditional cigarettes and requested more documents
and information within 30 days.
Flavored e-cigarettes represent 80% of Juul's sales. The company's
had dropped to about $25 billion, from $38 billion when Altria
invested in it, according to Morgan Stanley.
Federal prosecutors in California are conducting a criminal probe
into Juul, The Wall Street Journal reported last month, though it
said the focus of the probe was unclear.
(Reporting by Rishika Chatterjee in Bengaluru; editing by Jane
Wardell)
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