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JUUL Electronic Cigarettes added two new financial reorganization experts to join the board of directors

JUUL Electronic Cigarettes added two new financial reorganization experts to join the board of directors

2022-10-08

According to the new consumer report of Blue Cave, on October 8th, according to Bloomberg report, when the electronic cigarette company Jumul Labs was weighed the future development choice, they added two reorganized experts to the board of directors.


Paul Aronzon has joined the board of directors, and he has led the global financial reorganization group of Milbank, a law firm. Another new independent director is David Barse, who operates the index company Xout Capital and the family wealth management office DMB Holdings. Earlier this year, former CEO Barse, the former CEO of Third Avenue Management, joined the board of directors of CELSIIUS Network, Celsius Network, bankruptcy.


After the FDA prohibits JUUL products from entering the US shelves, Juul has been considering bankruptcy application or new financing, because the lack of evidence to prove its overall security. The company won a court order temporarily prevented the FDA's decision, which currently suspended the ban.


A spokesman for Juul told Bloomberg: As part of the preparation process, our board of directors recently added two new independent members. Their extensive experience in their company's exploration strategy will help determine which road is most suitable for us. The company, our products, and millions of adult smokers who have already transitioned from flammable cigarettes.


Jum has been cooperating with the reorganization consultant of Kirkland & Ellis and Alvarez & Marsal to evaluate its options. The Wall Street Journal reported the situation of members of the new board of directors earlier.


According to Bloombeg, the company has recently negotiated chapter 11 of chapters of bankruptcy. The preparations have not yet ended, and the plan may change.


According to a person familiar with the matter, JUUL Chairman and CEO K.c.crosthwaite said at an online meeting this week that the company recently reinstated its guarantee debt, but this is not to resolve the company's dilemma of the company's dilemma His permanent method, he demanded anonymous due to details. The company also suspended its international expansion and focused on the US and British markets, where it created almost all hair profits.


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