Juul Labs CEO Kevin Burns Departs the Business He Co-Founded

Juul Labs CEO Kevin Burns stepped down Wednesday from his role.

The announcement comes as merger talks between Altria and Phillip Morris collapsed.

The ongoing moral panic about vaping products has fueled negative headlines for the company and other industry participants. With Washington D.C. holding hearings on vaping products and states exploring bans on products, Burns has stepped down. The firm announced that K.C. Crosthwaite, former Chief Growth Officer at Altria Group, will take over for the company cofounder.

The firm will also stop advertising in the United States. The FDA has said that the company ignited an “epidemic of youth e-cigarette use.”

Aside from Juul Labs CEO Kevin Burns’s departure, here are other people on the move for September 26, 2019.

Other Notable Departures

On Wednesday, activist investors pushed out CEO Devin Wenig.

In a Tweet marked Wednesday, Wenig cited disagreements with fellow board members over the company’s future. Earlier this year, eBay reshuffled its board. In March, Jesse Cohn, the head of Elliott’s activism practice, joined the board of directors. So did Marvell Technology CEO and Starboard Value nominee Matt Murphy. Earlier this year, eBay reshuffled its board.

In March, Jesse Cohn, the head of Elliott’s activism practice, joined the board of directors. So did Marvell Technology CEO and Starboard Value nominee Matt Murphy.

GSAM Appoints New Leader

Goldman Sachs Asset Management (GSAM) has appointed Sheila Patel as chairman of the group. Hired in 2003 by Goldman, Patel was most recently co-head of Equities Distribution in Asia.

Goldman’s Luke Sarsfield will replace Patel. He will join Craig Russell as co-head of asset management. Sarsfield is the global head of the financial institution’s group.

Aberdeen Adds New Director

Aberdeen Standard Investments has hired Danielle Welsh-Rose out of Sydney. Welsh-Rose will serve as ESG investment director for the Asia-Pacific region and will be based in London.

According to a press release, Welsh-Rose “will help drive ASI’s ESG strategy in Asia-Pacific and partner with the investment teams across all asset classes to ensure full integration of ESG principles into investment decision-making,” while serving as an advocate for ESG investing with clients and investors in the region.

Five G Adds Florida Politician

Five G Capital Partners announced Tuesday that it has hired former Florida Senate President Mike Haridopolos as a Senior Managing Director and Chairman of Five G’s Advisory Board. Haridopolos retired from the Florida Senate in 2012.

London CIV Departs After Just Three Weeks

Mark Thompson has resigned as CIO of London CIV after just three weeks. In a statement, Thompson said he is departing for personal and family reasons. The company had just announced his signing on June 18.

He started his role on September 2. The pension investor said he couldn’t commit to the demands of the role in a statement.

“I have concluded, after further personal reflection, that I am not ready for a return to a full-time and demanding role and that I cannot, therefore, commit fully to the London CIV.” The company will conduct a new search for an executive to fulfill this role,” Thompson said.