Former Juul Leader Is a CEO Again, This Time at Digital Pharmacy
(Bloomberg) -- Kevin Burns, who resigned in 2019 as chief executive officer of Juul Labs Inc. amid growing controversy over the marketing of e-cigarettes, was named CEO of online service Alto Pharmacy.
Burns, who joined Alto a year ago as chief operating officer, replaces co-founder Matt Gamache-Asselin as CEO, according to a memo sent to employees Thursday. Gamache-Asselin plans to remain involved, leading the product and technology organization.
Burns joined Juul in 2017, when the e-cigarette maker enjoyed a heady valuation and was seen as one of the leading companies in the burgeoning industry. But growing use of vaping devices by teens and young non-smokers drew an outcry from public health officials, and the company announced the day Burns departed that it would stop advertising and lobbying.
Alto, part of a crop of hot startups in the online pharmacy space, was founded in 2015. The company has explored the idea of going public via a blank-check firm, Bloomberg reported in May, and was projected then to have revenue of about $700 million this year. Burns worked at yogurt maker Chobani and at private equity firm TPG Capital before joining Juul.
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