Wes Booysen
appointed Chief Financial & Operating Officer
Jared
Stanley appointed Chief Cultivation & Innovation
Officer
This news release constitutes a "designated
news release" for the purposes of Charlotte's Web Holdings Inc.'s
prospectus supplement dated June 3,
2021 to its short form base shelf prospectus dated
May 5, 2021.
DENVER, Dec. 16, 2021 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF)
Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company")
announces leadership changes. Mr. Jacques
Tortoroli, the former Chief Administrative Officer of
Bacardi Ltd., the world's largest privately-held spirits company,
has been appointed Chief Executive Officer of Charlotte's Web,
replacing outgoing CEO, Deanie
Elsner.
Mr. Tortoroli was also former President of Bacardi International
Limited and brings significant global executive leadership
experience. His 40-year career includes launching ecommerce
platforms, global finance, mergers & acquisitions, and
strategic partnerships through various senior executive roles at
Bacardi, Viacom Inc. Young & Rubicam Inc., PepsiCo Inc., and
KPMG.
"Jacques's strong track record of driving international brand
equity through product innovation and customer relationships will
be invaluable to Charlotte's Web," said John Held, Chairman of the Board.
Additional Leadership Changes
Wes Booysen, Charlotte's Web
Chief Financial Officer, is assuming expanded responsibilities
under the title of Chief Financial & Operating Officer.
Jared Stanley, Charlotte's Web
Co-founder and Chief Cultivation Officer, will assume an expanded
role as Chief Cultivation and Innovation Officer responsible for
hemp cultivation, extraction, cannabinoid R&D and product
development.
"I am delighted to be able to work closely with Wes, Jared and
the broader leadership team and excited about the opportunities we
have in front of us," said Mr. Tortoroli. "Domestically,
Charlotte's Web continues to innovate and grow market share, but
internationally – where we are increasing our focus – markets
present even more attractive opportunities for accelerated
growth."
Mr. Tortoroli has been a director of Charlotte's Web since
November 2019 and a member of the
Company's Compensation and Audit Committees. In connection with Mr.
Tortoroli's appointment as CEO, he is stepping down from his
committee appointments. Mr. Tortoroli replaces Deanie Elsner who had joined the Company in May,
2019. The Company thanks Ms. Elsner for her and valuable
contributions to Charlotte's Web and wishes her all the best in her
future endeavors.
"Deanie's enormous dedication positioned Charlotte's Web at the
forefront of our industry domestically and internationally," added
Mr. Tortoroli. "I am pleased to carry forward the platform
and optionality that she established for the business."
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Denver, Colorado,
is the market leader in innovative whole-plant hemp extract
wellness products under a family of brands which includes
Charlotte's Web™, CBD Medic™, CBD
Clinic™, and Harmony
Hemp™. Charlotte's Web branded premium quality
products start with proprietary hemp genetics that are 100-percent
American farm grown and manufactured into whole-plant hemp extracts
containing naturally occurring phytocannabinoids including
cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids and other
beneficial hemp compounds. The Company's CW Labs R&D science
division is located at the University at
Buffalo in New York which
is part of the State University of New
York (SUNY) system of 64
universities. Charlotte's Web product categories include full
spectrum hemp extract oil tinctures (liquid products), gummies
(sleep, stress, inflammation recovery), capsules, topical creams
and lotions, as well as pet products for dogs. Charlotte's Web
products are distributed to more than 14,000 retail outlets and
8,000 health care practitioners, and online through the Company's
website at www.CharlottesWeb.com.
Forward-Looking Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information
(collectively, "forward-looking information"). In some cases, but
not necessarily in all cases, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information. Specifically, this news release
contains forward-looking information relating to the Company's
expansion activities and growth strategy.
Statements containing forward-looking information are not
historical facts but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking
information. Important factors that could cause actual
results and financial condition to differ materially from those
indicated in the forward-looking information include, among others,
the factors discussed throughout the "Risk Factors" section of the
Company's most recently filed annual information form. Except as
required by applicable securities laws, the Company undertakes no
obligation to publicly update any forward-looking information,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
For further information subscribe to Charlotte's Web
investor news.
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SOURCE Charlotte's Web Holdings, Inc.