Crosthwaite to Serve as Board Chairman for Juul Labs

Teresa Sebastian, an executive with financial and compliance expertise, will join the Juul Labs board. Sebastian is CEO of The Dominion Asset Group, an early-stage investment group focused on revitalizing urban areas, according to a story on Bloomberg.com.

Sebastian will serve as an independent director and head up the vapor company’s audit committee, according to Juul Labs CEO K.C. Crosthwaite, according to Bloomberg. Sebastian is the first Black member of the company’s eight-person board. Juul added former Canadian Health Minister Rona Ambrose as an independent director in May, making her its first female board member, according to the report.

Crosthwaite also said he will become chairman at the board’s request, succeeding co-founder Adam Bowen, who will head up the product committee. Bowen became the company’s first chairman when Crosthwaite joined the company last fall, according to Bloomberg.

“We are all aware that our company is entering a critical period,” Crosthwaite said. “With the support and oversight of our increasingly robust board, we will deliver our first PMTA submissions to the FDA, while continuing the work of combating underage vaping and transitioning adult smokers all around the world from combustible cigarettes.”

Crosthwaite said in the email that Sebastian will help Juul ensure it has financial discipline, according to Bloomberg. She serves on two other boards and teaches courses on corporate compliance, legal risk management and accounting at the University of Michigan and Vanderbilt University.