Charlotte’s Web Announces Leadership Changes Appoints Jacques Tortoroli as CEO

Here’s the press release

Charlotte’s Web Holdings, Inc. (Charlotte’s Web) announces leadership changes. Jacques Tortoroli, the former chief administrative officer of Bacardi Ltd., a privately-held spirits company, has been appointed chief executive officer of Charlotte’s Web, replacing outgoing CEO Deanie Elsner.

Tortoroli was the former president of Bacardi Ltd. and brings significant global executive leadership experience. His 40-year career includes launching e-commerce platforms, global finance, mergers and acquisitions, and strategic partnerships through various senior executive roles at Bacardi, Viacom Inc., Young & Rubicam Inc., PepsiCo Inc., and KPMG.

“Jacques’s [Tortoroli’s] strong track record of driving international brand equity through product innovation and customer relationships will be invaluable to Charlotte’s Web,” said John Held, chairman of the board.

Additional Leadership Changes

Wes Booysen, Charlotte’s Web chief financial officer, is assuming expanded responsibilities under the title of chief financial & operating officer.

Jared Stanley, Charlotte’s Web co-founder and chief cultivation officer, will assume an expanded role as chief cultivation and innovation officer responsible for hemp cultivation, extraction, cannabinoid R&D, and product development.

“I am delighted to be able to work closely with Wes, Jared, and the broader leadership team and excited about the opportunities we have in front of us,” Tortoroli said. “Domestically, Charlotte’s Web continues to innovate and grow market share, but internationally–where we are increasing our focus–markets present even more attractive opportunities for accelerated growth.”

Tortoroli has been a director of Charlotte’s Web since November 2019 and a member of the company’s compensation and audit committees. In connection with Tortoroli’s appointment as CEO, he is stepping down from his committee appointments. Tortoroli replaces Deanie Elsner, who had joined the company in May 2019. The company thanks Elsner for her valuable contributions to Charlotte’s Web and wishes her all the best in her future endeavors.

“Deanie’s [Elsner’s] enormous dedication positioned Charlotte’s Web at the forefront of our industry domestically and internationally,” Tortoroli added. “I am pleased to carry forward the platform and optionality that she established for the business.”

 

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