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Juul CEO Kevin Burns steps down; Altria, Philip Morris end merger talks

Updated : September 26, 2019 06:51 AM IST

JUUL is suspending all advertising and government lobbying as it responds to a mounting public backlash over the risks of vaping.
At the same time, a potential $200 billion merger between Altria, a major Juul stakeholder, and Philip Morris International collapsed, with the two companies saying Wednesday that efforts to reach a deal had failed.
Juul CEO Kevin Burns will be replaced by KC Crosthwaite, himself a top Altria executive.
Juul CEO Kevin Burns steps down; Altria, Philip Morris end merger talks

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