Charlottes Web Holdings (TSX: CWEB) (OTCQX: CWBHF) - Investor Dashboard
|Employees:||320 at 06/30/19|
Charlottes Web Holdings – Management Team
Adrienne Elsner- CEO
Adrienne “Deanie” Elsner has more than 25 years of experience in the consumer packaged goods space. Before taking on her leadership role at Charlotte’s Web in May 2019, Elsner was the President of Kellogg Company’s U.S. snacks division. She has also held various leadership roles at Kraft Foods Company, including Chief Marketing Officer and Executive Vice President.
Russell Hammer – CFO
Russell Hammer has more than 30 years of finance experience in multiple industries, including retail, tourism, and technology. During his career, has held leadership roles at the helm of multibillion-dollar businesses. Hammer most recently served as an advisor in private equity investments. As CFO of Charlotte’s Web, he will help the company on its path to becoming a global CPG company.
Stephen Lermer – COO
Stephen Lermer comes to Charlotte’s Web with extensive experience in the pharmaceutical industry. Over the past 38 years, he has held senior leadership positions at companies such as DuPont, Johnson & Johnson, Akela Pharma, and more. His career has also equipped him with international business experience spanning Europe, South America, North America, Central America, and the Caribbean.
Eugenio Mendez – Chief Growth Officer
Eugenio Mendez previously served as the Vice President of Global Marketing of Water, Enhanced Water, and Sports Drinks at the Coca-Cola Company. He stepped into the newly formed Chief Growth Officer role in January 2019. In this position, Eugenio will lead the company’s business development, marketing, and sales operations. Before stepping into his current role, Eugenio served Charlotte’s Web in an advisory capacity.
Jared Stanley – VP of Cultivation
Jared Stanley is the Company’s Vice President of Cultivation Operations and has served as a Director of the Company since its inception in 2013. Jared graduated from Colorado State University with a degree in Applied Human Sciences with a concentration in Construction Management. Since 2014, Jared and his brothers have built the extensive cultivation operations of the Company with locations in three states. Mr. Stanley also plays an active role outside of the Company promoting its products and technologies at public events around the world. He also plays a significant role in the Company’s legislative activities at the state and federal level.
Joel Stanley – Chairman
Joel Stanley is the former CEO and current Chairman of the Board of Charlotte’s Web Holdings, Inc. He has served as the Company’s Chairman since its inception in 2013. Mr. Stanley is an entrepreneur having started several small businesses in his career, with the most notable being Stanley Brothers, Inc. (Charlotte’s Web). In late 2017, Mr. Stanley stepped down from his CEO role after Mr. Moallem joined the Company as President and CEO. In addition to his multiple business activities, Mr. Stanley is considered to be one of the most knowledgeable and well-known professionals in the cannabis industry, both domestically and internationally. He has also been very active at the legislative level educating state and federal officials on the virtues of the cannabis plant and its benefits to society.
Significant Insider Ownership
Hesaam Moallem, CEO:
2.48 million options (as-converted basis)
Richard Mohr, CFO:
1.58 million options (as-converted basis)
Stanley Brothers in aggregate:
29.44 million shares (as-converted basis)
History and Development of the Company
Now based in Colorado, SBI’s (Stanley Brothers, Inc.) founders, the seven Stanley brothers, began their lives in Texas and Oklahoma before their family moved north to the mountains of Colorado. The brothers, Josh, Joel, Jesse, Jon, Jordan, Jared and J. Austin (the ‘‘Stanley brothers’’), have committed their professional careers to effectuating healthcare and environmental related societal change through research into plant-based medicines, responsible agricultural methods and conscientious business practices. Since 2008, the Stanley brothers have been engaged in research into the medicinal properties of all forms of Cannabis. Inspired by the powerful properties of cannabinoids they discovered in their research, the Stanley brothers founded SBI in December 2013.
CWB was initially formed under the CBCA on December 8, 2013 under the name Stanley Brothers Social Enterprises, LLC, and on June 19, 2015 changed its name to CWB Holdings, LLC. On December 30, 2015 it converted from a limited liability company to a corporation pursuant to Colorado law and changed its name to CWB Holdings, Inc. There was no material consideration paid to the Stanley brothers as founders of CWB other than their equity shares.
Between 2016 and 2017, the Stanley brothers made the decision to expand cultivation activities into Kentucky and Oregon to diversify CWB’s Industrial Hemp farming operations for the purpose of (i) hedging production against weather-related events, and (ii) accessing services of experienced Industrial Hemp farming operations with a view to maintain access to an additional supply of Industrial Hemp.
The Decision to Go Public
To maintain CWB’s lead in the marketplace and to satisfy the increasing demand for its products, the Stanley brothers determined that additional investment in CWB’s operations may be necessary to take advantage of growth opportunities and to expand CWB’s producing capabilities. To that end, the Stanley brothers reviewed various alternatives and, together with the newly appointed management team, decided that an initial public offering on a Canadian public exchange would best facilitate CWB’s objectives, and would also serve as an effective platform for global expansion.
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