Charlotte's Web Appoints Andrew Shafer as Chief Marketing Officer

LOUISVILLE, Colo., April 4, 2023 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol ("CBD") hemp extract wellness products is pleased to announce the appointment of Andrew Shafer as its Chief Marketing Officer (CMO).

With over two decades of marketing experience, Mr. Shafer brings a wealth of expertise and a proven track record for delivering results in hyper-competitive consumer verticals. He has led marketing and advertising initiatives in brand strategy, digital experience design, and social marketing. He brings a unique perspective from both communications and customer experience.

In his most recent role as Executive Director and Head of Brand Marketing at Verizon, he spearheaded the development of positioning strategies that expanded brand leadership across consumer and business segments. Mr. Shafer led marketing partnerships across retail channels, as well as key strategic relationships with major sports leagues and professional sports teams.

In addition to his leadership in brand marketing, Mr. Shafer also excels in customer experience design and development. As Director of Digital Experience at Verizon, he designed and launched an omnichannel digital experience strategy that reduced customer friction points and increased engagement.  He also led digital advertising and social media strategies that grew social communities, increased engagement, and elevated sales. Prior to his time at Verizon, Mr. Shafer held various leadership positions in marketing and advertising, including as Marketing Manager at Mercedes-Benz USA, and as a Partner at Ogilvy & Mather.

In his new role at Charlotte's Web, Mr. Shafer will lead the Company's marketing initiatives in both traditional consumer retail, as well as digital and social channels to drive online sales. Near-term priorities will include cross-platform activations with Major League Baseball and sports verticals for the new Charlotte's Web NSF Certified for Sport® broad spectrum CBD product line. He will also oversee the Company's corporate social responsibility (CSR) and B Corp initiatives.

"Andrew's extensive experience in managing multi-disciplinary teams, developing brand strategies, and creating effective cross-channel marketing campaigns, makes him the ideal candidate for our CMO position," Jacques Tortoroli, Chief Executive Officer of Charlotte's Web said. "Andrew will be responsible for developing and executing comprehensive marketing strategies that increase brand awareness, drive sales growth, and enhance customer engagement across all channels. We are confident that his unique perspective and results-oriented approach will drive our brand to new heights, and we are thrilled to have him onboard."

Andrew holds a Bachelor of Fine Arts degree in Psychology from Gettysburg College, and has completed various executive training programs, including Harvard Business School's Driving Digital & Social Strategies, USC Marshall School of Business's Management Development Program, and Chicago Booth School of Business's Strategic Marketing Management.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands that includes Charlotte's Web™, CBD Medic™, and CBD Clinic™.  Charlotte's Web whole-plant CBD extracts come in full-spectrum and broad-spectrum (THC-free) options, including the world's only broad-spectrum CBD certified NSF for Sport®, which is the official CBD of Major League Baseball©. Founded by the seven Stanley Brothers, Charlotte's Web ignited the CBD industry when the brothers came to global prominence with the coverage of a young girl's astounding reaction to their hemp extract. Their advocacy changed laws, public perception, and research around the vast health potential of plant-based solutions. The Stanleys built their business with the mission to bring botanical options to health seekers worldwide. 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"), CBC, CBG, terpenes, flavonoids, and other beneficial compounds. The Company's CW Labs R&D division advances hemp science at a center of excellence in Louisville, Colorado. Charlotte's Web product categories include CBD oil tinctures (liquid products) CBD gummies (sleep, stress, exercise recovery), 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 20+ product lot testing 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.  

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Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, ‎‎"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 current ‎expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events ‎and trends, the economy and other future conditions. 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 statements containing forward-looking information. Although these statements containing forward-looking information are based on assumptions the Company considers to be reasonable based on the information ‎available on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned ‎against placing undue reliance on forward-looking information. 

The material factors and assumptions used to develop the forward-looking information herein include, but are not limited to, international and political considerations; regulatory changes; ‎and the factors discussed throughout the "Risk Factors" section of the Company's most recently filed annual information form available on www.SEDAR.com and in the Company's most recently filed Annual Report on Form 10-K and quarterly report on Form 10-Q as amended, and other filings with the Securities and Exchange Commission available on www.SEC.gov. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Charlotte's Web Holdings, Inc. 

THE WORLD'S MOST TRUSTED HEMP EXTRACT™ 

SOURCE Charlotte's Web Holdings, Inc.