Top-Tier Executive Team Leads Global
Expansion
as a Consumer-Packaged
Goods Brand
BOULDER, CO, July 16, 2019 /CNW/ - Charlotte's Web Holdings,
Inc. ("Charlotte's Web" or the "Company") (TSX:CWEB, OTCQX:CWBHF),
the market leader in hemp CBD extract products, is pleased to
announce that Tony True has joined
the Company in the newly formed role of Chief Customer Officer. Mr.
True comes to Charlotte's Web from Pharmavite LLC, one of the
largest U.S. manufacturers of high-quality vitamins, minerals, and
other dietary supplements, where he served as Executive Vice
President, Sales. As Chief Customer Officer for Charlotte's Web, he
will lead the Company's sales strategy and forecasting, customer
development and relationships, and retail execution. Mr. True will
report directly to Charlotte's Web CEO Deanie Elsner.
Mr. True brings nearly 30 years of sales leadership experience
at top healthcare and consumer packaged goods (CPG) companies,
including Kellogg Company, Pepsi Beverages Company, and McNeil
Consumer Healthcare. Most recently, at Pharmavite, he led the sales
organization, including strategic insights, customer relationships,
sales planning and forecasting, retail execution, customer
development, and organizational planning. Under his leadership,
annual sales of Nature Made vitamins reached USD$1.2 billion. At Kellogg's, Mr. True managed
the Direct Store Delivery team and the Snacks Business Unit for the
Western Region of the United
States. At Pepsi, he was responsible for all Pepsi-Cola
North American beverages for the grocery and mass channels,
representing about $5 billion in
retail sales. At McNeil, a Johnson & Johnson company, he was
responsible for the entire analgesics brand portfolio, including
Tylenol, Motrin, and Children's, for Wal-Mart, the Company's
largest domestic customer.
"Tony's three decades of sales leadership at both consumer
product goods and healthcare companies is a valuable combination to
support the Company's next phase of growth," said Deanie Elsner, CEO of Charlotte's Web. "His
appointment is a timely addition to our evolving leadership team,
as we continue to bring in top-tier talent to further extend
Charlotte's Web's leadership position in the market."
Charlotte's Web Chairman and co-founder Joel Stanley stated, "We're very excited to have
Tony join our Company. He is a natural fit for Charlotte's Web as
we continue to evolve and plan for global expansion. As the
industry's leading brand, we will benefit greatly from his sales
leadership experience at world-class CPG and healthcare
brands."
Mr. True's addition is one of several leadership appointments
have been made this year to support Charlotte's Web's growth and
evolution as a global CPG retail brand. Ms. Elsner, who took over
as CEO of the Company in April, previously served as President of
Kellogg's U.S. Snacks division. In addition, Charlotte's Web
announced earlier this year the addition of Stephen Lermer as Chief Operating Officer and
Eugenio Mendez as Chief Growth
Officer.
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About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc. is the market leader in the
production and distribution of innovative hemp-derived cannabidiol
("CBD") wellness products. Founded by the Stanley Brothers, the
Company's premium quality products start with proprietary hemp
genetics that are responsibly manufactured into
hemp-derived CBD extracts naturally containing a full spectrum of
phytocannabinoids, including CBD, terpenes, flavonoids and other
beneficial hemp compounds. Charlotte's Web product categories
include CBD Oil tinctures (liquid products), CBD capsules, CBD
topicals, as well as CBD pet products. Charlotte's Web
hemp-derived CBD extracts are sold through select distributors,
brick and mortar retailers, and online through the Company's
website at www.CharlottesWeb.com. The rate the Company pays for
agricultural products reflects a fair and sustainable rate driving
higher quality yield, encouraging good farming practices, and
supporting U.S. farming communities.
Charlotte's Web is a socially conscious company and is committed
to using business as a force for good and a catalyst for
innovation. The Company weighs sound business decisions with
consideration for how its efforts affect its employees, customers,
the environment, and the communities where its employees live and
where it does business, while maximizing profits and strengthening
its brands. The Company's management believes that socially
oriented actions have a positive impact on the Company, its
employees and its shareholders. Charlotte's Web donates a portion
of its pre-tax earnings to charitable organizations.
Shares of Charlotte's Web trade on the Toronto Stock Exchange
(TSX) under the symbol "CWEB" and are quoted in U.S. Dollars in
the United States on the OTCQX
under the symbol "CWBHF". As at June
17, 2019 Charlotte's Web had 43,156,479 Common Shares
outstanding and 135,506.32 Proportionate Voting Shares convertible
at 400:1, for an effective equivalent of 97,359,007 Common Shares
outstanding.
Forward-Looking Information
Certain information in this news release constitutes
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. Statements containing forward-looking
information are not historical facts but instead represent
management's expectations, estimates and projections regarding
future events.
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, including but not limited to the factors described in
greater detail in the public documents of the Company available at
www.sedar.com. These factors are not intended to represent a
complete list of the factors that could affect the Company;
however, these factors should be considered carefully. There can be
no assurance that such estimates and assumptions will prove to be
correct. The forward-looking statements contained in this news
release are made as of the date of this news release, and the
Company expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
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SOURCE Charlotte's Web Holdings, Inc.