LOUISVILLE, Colo., June 18,
2024 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's
Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the
leading provider of hemp-derived CBD wellness products, is pleased
to announce the appointment of Erika
Lind as Chief Financial Officer (CFO), replacing
Jessica Saxton who has resigned from
the Company to pursue other interests effective June 28th, 2024. Ms. Lind's
appointment is effective June 29,
2024.
Erika Lind joined Charlotte's Web
in 2023 as Vice President of Financial Planning and Analysis
(FP&A), and Treasury, where she has led strategic financial
planning, performance management, and treasury operations. Ms. Lind
came to Charlotte's Web with more than two decades of executive
financial leadership experience at several growth companies
including Celestial Seasonings, Orica USA, Hammond's Candies, and Spectra Logic Corp.
Prior to joining Charlotte's Web she was the former Vice President
of Finance at Made in Nature LLC.
Bill Morachnick, Chief Executive
Officer of Charlotte's Web said, "We are excited for Erika to join
the leadership team at Charlotte's Web. We are confident she
is the right financial executive and leader to guide Charlotte's
Web to profitable business growth."
Ms. Lind's comprehensive background in financial planning,
strategic analysis, and operational oversight positions her well to
lead as CFO of Charlotte's Web. Her experience in leveraging
technology to enhance financial processes and her ability to manage
high-performing teams aligns with the Company's mission-driven
culture.
Outgoing Chief Financial Officer Jessica
Saxton will provide continuity and assist in successfully
transitioning Ms. Lind into her new role as CFO. "We are grateful
to Jessica for her significant contributions and financial
stewardship during her tenure with Charlotte's Web," said Mr.
Morachnick.
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About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Louisville,
Colorado, is the market leader in innovative hemp extract
wellness products that includes Charlotte's Web whole-plant
full-spectrum CBD extracts as well as broad-spectrum CBD certified
NSF for Sport®. Charlotte's Web is the official CBD of Major League
Baseball©, Angel City Football Club and the Premier Lacrosse
League. Charlotte's Web branded premium quality products start with
proprietary hemp genetics that are North American farm-grown using
organic and regenerative cultivation practices. The Company's hemp
extracts have naturally occurring botanical compounds including
cannabidiol ("CBD"), CBN, CBC, CBG, terpenes, flavonoids, and other
beneficial compounds. Charlotte's Web product categories include
CBD oil tinctures (liquid products) CBD gummies (sleep, calming,
exercise recovery, immunity), CBN gummies, CBD capsules, CBD
topical creams and lotions, as well as CBD pet products for dogs.
Through its substantially vertically integrated business model,
Charlotte's Web maintains stringent control over product quality
and consistency with analytic testing from soil to shelf for
quality assurance. Charlotte's Web products are distributed to
retailers and health care practitioners throughout the U.S.A, and online through the Company's
website at www.charlottesweb.com.
© Major League Baseball trademarks and copyrights are used
with permission of Major League Baseball. Visit
MLB.com.
Forward-Looking Information
Certain information provided herein constitutes
forward-looking statements or information (collectively,
"forward-looking statements") within the meaning of applicable
securities laws. Forward-looking statements are typically
identified by words such as "may", "will", "should", "could",
"anticipate", "expect", "project", "estimate", "forecast", "plan",
"intend", "target", "believe" and similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking
statements are not guarantees of future performance and readers are
cautioned against placing undue reliance on forward-looking
statements. This press release includes forward-looking
statements pertaining to, but not limited to, the Company's CFO
transition. By their nature, these statements involve a
variety of assumptions, known and unknown risks and uncertainties,
and other factors which may cause actual results, levels of
activity, and achievements to differ materially from those
expressed or implied by such statements. The forward-looking
statements contained in this press release are based on certain
assumptions and analysis by management of the Company in light of
its experience and perception of historical trends, current
conditions and expected future development and other factors that
it believes are appropriate and reasonable.
The material factors and assumptions used to develop the
forward-looking statements herein include but are not limited to
assumptions relating to the Company's general strategy and
operations, executive leadership team and CFO transition plans.
Material risk factors that could cause actual results to differ
materially from the forward-looking statements include, among
others, general economic and market risks, cyber-security risks and
those risks and uncertainties discussed under the heading "Risk
Factors" in the Company's Annual Report on Form 10-K for the
year ending December 31, 2023, 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.sedarplus.ca. The impact of any one risk, uncertainty, or
factor on a particular forward-looking statement is not
determinable with certainty as these are interdependent, and the
Company's future course of action depends on management's
assessment of all information available at the relevant
time.
Any forward-looking statement in this press release is based
only on information currently available to the Company and speaks
only as of the date on which it is made. Except as required by
applicable law, the Company assumes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events, or otherwise. All forward-looking
statements, whether written or oral, attributable to the Company or
persons acting on the Company's behalf, are expressly qualified in
their entirety by these cautionary statements.
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SOURCE Charlotte's Web Holdings, Inc.
