Major shake-up at Juul as co-founder plans to step down
Juul is facing another major shake-up as one of its co-founders reportedly plans to step down, adding to the turmoil that has surrounded the U.S. vaping giant.
On the morning of March 13, Beijing time, the U.S. electronic cigarette market was rocked by explosive news—one of the founders of the troubled U.S. electronic cigarette giant Juul plans to step down.<\/div>
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This news is even more shocking than the departure of Juul's CEO Kevin Burns on September 26 last year!<\/div>
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The two founders of Juul are Adam Bowen and James Monsees.<\/div>
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According to Bloomberg, co-founder James Monsees plans to resign from his advisory and board positions at the company.<\/div>
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In an email sent to Juul employees, Monsees wrote: "Building this company with everyone has been the most meaningful experience of my career and my life." It is reported that he plans to spend more time with his family.<\/div>
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It is understood that in 2007, when Bowen and Monsees were still pursuing their master's degrees at Stanford University, they co-founded the electronic cigarette company Ploom, which was sold to Japan Tobacco eight years later, and they renamed their company Pax Labs.<\/div>
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Around the same time (2015), they launched a USB-shaped electronic cigarette named Juul. In 2017, Juul officially spun off from Pax Labs and quickly became a leader in the U.S. electronic cigarette market, with its market share soaring from 13.6% at the beginning of 2017 to over 75% at its peak.<\/div>
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As a pioneer of nicotine salt e-cigarettes, Juul has driven the development of the e-cigarette industry and the popularization of e-cigarette culture, creating a myth in the industry. It took only three years for its valuation to rise from $0 to $38 billion!<\/div>
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However, it should be noted that Monsees' departure will have an impact on Juul, but it does not mean that Juul has lost hope, nor does it indicate a bleak future for the e-cigarette industry!<\/div>
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As long as one understands deeply, it will be intuitively felt that we are still in the early stages of the e-cigarette industry, which still has great development prospects; the future belongs to the e-cigarette era!<\/div>
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In the past two years, as more countries around the world have begun to impose taxes on e-cigarettes, they have started to gain recognition and acceptance from governments, marking the beginning of a standardized development phase for e-cigarettes!<\/div>
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