Charlotte’s Web Names Former Pharmavite Executive Tony True as Chief Customer Officer

Top-Tier Executive Team Leads Global Expansion as a Consumer-Packaged Goods Brand

BOULDER, CO, July 16, 2019 /PRNewswire/ – 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.

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 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.

Original Press Release

Published by NCV Newswire
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