Pax Labs names a new CEO
Five and a half months after Bharat Vasan was removed as CEO, Pax Labs has finally announced a replacement. Michael Murphy will step into the leadership role, as both the CEO and President of the popular cannabis vaporizer company.
Murphy is a finance guy, with experience as the CFO of Diamond Foods and Office Depot, along with a COO role at telecom company NextWave Wireless. Most recently, he served as Managing Director of management consultant firm, AlixPartners.
Murphy’s predecessor was in the role for around a year and a half, having come to the gig with a consumer electronics background. Pax has certainly been on a solid trajectory in recent years, raising $420 million (heh heh) at a $1.7 billion valuable back in April (not quite 4-20), but the vaping industry at large has struggled with concerns over public health and usage among minors.
“As the industry emerges from some tough months, I am excited about the opportunity Pax has to be the leading company in cannabis vaporization technology,” Murphy said in a release tied to the news. “Pax is already the recognized leader in providing premium products that prioritize transparency and customer safety.”
At CES last month, the company announced the Pax Era Pro, a vaporizer designed to increase transparency around the content of the cartridges being vaped, by way of an NFC tag that identifies ingredients and origins.