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A co-founder of controversial e-cigarette maker Juul Labs Inc. is stepping down from its board, the company said Thursday.
James Monsees launched the startup, then known as Ploom Inc., in 2007 with Adam Bowen. It catapulted to the top of the e-cigarette market but was blamed for a surge in teen vaping. It has been buffeted by regulatory crackdowns, lawsuits and investigations into whether its marketing targeted underage users.
Monsees and Bowen in October stepped down from their jobs as chief product officer and chief technology officer and moved into advisory roles assisting the company’s new chief executive, K.C. Crosthwaite.
“After 15 years on this tremendous journey, it is with a great deal of thought and consideration that I have decided it is time for me to move on from Juul Labs,” Mr. Monsees wrote in an email to staff Thursday. “As both a founder and a major shareholder, I could not be more proud of the thoughtful actions that are being taken and the people in whose hands I’m leaving the company for its next great chapter.”
An expanded version of this report appears on WSJ.com:
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