DENVER, April 25, 2022 /PRNewswire/ - (TSX: CWEB) (OTCQX:
CWBHF) Charlotte's Web Holdings,
Inc., ("Charlotte's Web" or the
"Company"), the market leader in full-spectrum cannabidiol ("CBD")
hemp extract wellness products, today announced management changes
in finance and operations.
Charlotte's Web Board of
Directors has appointed Lindsey
Jensen as Chief Financial Officer replacing Wes Booysen who is departing the Company to
pursue other opportunities. These changes are effective today. Ms.
Jensen was most recently Vice President of Finance Sales &
Operations. Ms. Jensen joined Charlotte's Web in 2019 and has more than a
decade of executive financial leadership experience in the
consumer-packaged goods industry at companies including Whitewave
Foods and Patagonia, Inc.
Jared Stanley, Charlotte's Web co-founder and Chief
Cultivation & Innovation Officer has been appointed Chief
Operating Officer. Ray Kunkel, Vice
President of Supply Chain, will report to Mr. Stanley. Mr. Kunkel
joined the Company in 2019 and has years of experience in supply
chain, including over twenty years with Procter & Gamble, and
six years at Perrigo.
"I am thankful for the service and stewardship Wes has provided
Charlotte's Web," said
Jacques Tortoroli, CEO of
Charlotte's Web. "I look forward
to the incredible future we have ahead at Charlotte's Web 2.0. I couldn't be happier
that Jared will serve as our Chief Operating Officer and continue
to provide inspiration to our 200+ employees. He has been at
my side setting our ambition and vision for CW2.0. and is the right
person to take on supply chain in addition to his responsibilities
leading cultivation, NPD, quality, and innovation. I am equally
excited to have Lindsey leading finance. She has a keen
understanding of our business and our economics that can be
leveraged across the Company in her new role."
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About Charlotte's Web Holdings,
Inc.
Charlotte's Web Holdings, Inc.,
a Certified B Corporation headquartered in Denver, is the market leader in innovative
hemp extract wellness products under a family of brands which
includes Charlotte's Web™, CBD
Medic™, CBD Clinic™, and Harmony Hemp™.
Charlotte's Web was founded by
the seven Stanley Brothers in 2013
when they famously developed a unique CBD hemp extract to help a
little girl in need, and forever changed global perceptions around
the wellness benefits of hemp. With its storied origins,
Colorado-based Charlotte's Web is widely recognized around
the world for its patented hemp cultivars which provide full
spectrum entourage effects from its whole-plant extracts.
Charlotte's Web is often referred
to as "The World's Most Trusted Hemp Extract".
Charlotte's Web branded premium
quality products start with proprietary hemp genetics that are
100-percent American farm grown and manufactured into 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
division, advances hemp science at two centers of excellence in
Louisville, Colorado, and the
Hauptmann Woodward Research Institute at the University at Buffalo, part of the State University of New York (SUNY) network. Charlotte's Web product categories include
full-spectrum hemp CBD oil tinctures (liquid products), CBD gummies
(sleep, stress, exercise recovery), CBD capsules, CBD topical
creams and lotions, as well as CBD pet products for dogs.
Through its vertically integrated business model, Charlotte's Web maintains stringent control
over product quality and consistency. In the United States, Charlotte's Web products are distributed to
more than 15,000 retail, over 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 within
the meaning of applicable securities laws (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, among others: the
future of Charlotte's Web and the
impacts of management changes.
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. The
material factors and assumptions used to develop the
forward-looking information herein include, but are not limited to,
the following: the impact of the COVID-19 pandemic; the regulatory
climate in which the Company currently operates and may in the
future operate; consumer interest in CBD; successful sales of the
Company's products; and the success of sales and marketing
activities. 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 Report on Form 10-K for the year ended
December 31, 2021 available on
www.SEDAR.com and www.sec.gov , and other risk factors contained in
other filings with the Securities and Exchange Commission available
on www.sec.gov and filings with Canadian securities regulatory
authorities available on www.sedar.com. 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.
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SOURCE Charlotte's Web
Holdings, Inc.