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Juul Labs Inc. is shuffling its leadership ranks, appointing an interim chief financial officer and putting his predecessor in charge of the e-cigarette maker’s $1 billion restructuring effort.
Guy Cartwright, who became CFO in October, is leaving the role to become the company’s chief transformation officer. He took over the top finance job shortly after Juul switched CEOs amid a federal crackdown on underage vaping and flavored e-cigarettes.
Saurabh Sinha, the company’s accounting chief, is taking over as interim CFO, a company spokesperson said Monday. Sinha joined the San Francisco startup in 2018, according to his LinkedIn profile.
The change, which is effective immediately, comes as the e-cigarette company braces for a hit in sales after voluntarily stopping the sale of most of its flavors in the U.S. amid pressure from regulators. In November, the company cut around 650 jobs, or about 16% of its global workforce.
An expanded version of this report appears on WSJ.com.
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