Friday, March 13, 2020

Juul Co-Founder James Monsees Steps Down From Board

The co-founder of the controversial e-cigarette maker Juul Labs Inc. is stepping down from its board, the company said on Thursday. Back in 2007, James Monsees, one of the co-founders of the company, first launched its startup as Ploom Inc, with his partner Adam Bowen. The company skyrocketed and received much success. The business grew fast and became the top e-cigarette seller out on the market. Unfortunately for Monsees, the great business success also came with a lot of backlash from the community. Monsees was accused of marketing his product to underage users. Many people blamed him for the increasing vaping in teenagers. Monsees has gone through and might still be currently going through multiple lawsuits and investigations about his marketing for these accusations. Back in October of 2019, the founders stepped down as the head and moved to assist the new chief executive. Monsees was recently married and is now excited to spend more time with his family. With all his success in business, he will be able to have an amazing time with his family. Many of his staff believe and are thankful for him because he has helped millions of people go from smoking cigarettes to vaping Juuls and claim that the number will only rise. Monsees is also proud of the people he is leaving his company to and claims that it is his time to move on from the company. Additionally, back in September 2019, Juul stopped the U.S sales of sweets and fruity flavors, cut 650 workers and scaled back its expansion, but later in January 2020, one of the major shareholders, Altria Group Inc., made an agreement with Juul to expand and diversify the board. Before there were 7 members and now there will be 9, 2 of which will be representing Altria Group Inc., but this will not take place until the FDA completes its antitrust review. Altria had a $12.8 billion investment startup; the review has gone on for over a year after the deal and it is still awaiting results.

The co-founder of the controversial e-cigarette maker Juul Labs Inc. is stepping down from its board, the company said on Thursday. Back in 2007, James Monsees, one of the co-founders of the company, first launched its startup as Ploom Inc, with his partner Adam Bowen. The company skyrocketed and received much success. The business grew fast and became the top e-cigarette seller out on the market. Unfortunately for Monsees, the great business success also came with a lot of backlash from the community. Monsees was accused of marketing his product to underage users. Many people blamed him for the increasing vaping in teenagers. Monsees has gone through and might still be currently going through multiple lawsuits and investigations about his marketing for these accusations. Back in October of 2019, the founders stepped down as the head and moved to assist the new chief executive. Monsees was recently married and is now excited to spend more time with his family. With all his success in business, he will be able to have an amazing time with his family. Many of his staff believe and are thankful for him because he has helped millions of people go from smoking cigarettes to vaping Juuls and claim that the number will only rise. Monsees is also proud of the people he is leaving his company to and claims that it is his time to move on from the company. Additionally, back in September 2019, Juul stopped the U.S sales of sweets and fruity flavors, cut 650 workers and scaled back its expansion, but later in January 2020, one of the major shareholders, Altria Group Inc., made an agreement with Juul to expand and diversify the board. Before there were 7 members and now there will be 9, 2 of which will be representing Altria Group Inc., but this will not take place until the FDA completes its antitrust review. Altria had a $12.8 billion investment startup; the review has gone on for over a year after the deal and it is still awaiting results.
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