An aerosol-generating device is provided, including: an aerosol generator configured to generate an aerosol from an aerosol-forming substrate; a power supply; a first circuit board including a control circuit configured to control a supply of power from the power supply to the aerosol generator; a heat conductive assembly including a first end in thermal contact with the first circuit board and a second end spaced apart from the first circuit board; and a second circuit board, the first end of the heat conductive assembly being in thermal contact with the second circuit board, the second circuit board at least partially overlies the first circuit board, the second circuit board being spaced apart from the first circuit board, and the first end of the heat conductive assembly being positioned between the first circuit board and the second circuit board.