An e-cigarette. Credit: Tibanna79/Shutterstock.comCannabis Vaporizer Maker Promotes Newly Hired General Counsel to Interim CEO
CEO Bharat Vasan has been ousted as general counsel Lisa "LD" Sergi Trager, formerly of MedMen, will serve as the interim CEO.
September 17, 2019 at 05:48 PM
2 minute read
Vaporizer company Pax Labs Inc. confirmed media reports on Tuesday that CEO Bharat Vasan has been pushed out as the company's CEO and the newly hired general counsel Lisa "LD" Sergi Trager will serve as the interim CEO.
A representative for Pax said the San Francisco-based company is not offering any statement at this time and is only confirming the accuracy of the report by TechCrunch. Vasan was brought on as CEO of Pax in February 2018. He had previously served as the president and chief operating officer of August Home Inc. Vasan could not be reached for comment on Tuesday.
According to the TechCrunch report, Pax hired Trager in July as general counsel. Corporate Counsel could not reach Trager for comment on Tuesday. However, in a statement sent to TechCrunch, Trager said she is "extremely excited and honored" to lead the organization.
"PAX is uniquely positioned as a leader in the burgeoning cannabis industry, with a talented team, an iconic brand, quality products and the balance sheet to achieve our ambitious goals and continued growth trajectory," Trager said in the statement to TechCrunch.
Trager previously served as the general counsel to cannabis company MedMen from April 2018 to last May. According to her LinkedIn profile, she also has worked at law firms as a tax attorney.
The change in leadership comes at a time when vaporizer companies are under public scrutiny because of illnesses and deaths associated with the use of vaping products. It is not clear if the investigation into the illnesses and deaths have anything to do with the leadership change. Pax created the Juul e-cigarette before Juul Labs Inc. spun off as an individual company in 2017.
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