Tag: Charlotte's Web Holdings

  • Former BAT Group Head to Lead Charlotte’s Web Board

    Former BAT Group Head to Lead Charlotte’s Web Board

    Credit: Opolja

    Charlotte’s Web Holdings, a supplier of cannabidiol (CBD) hemp extract wellness products, has appointed Jonathan P. Atwood to the company’s board of directors, according to PR Newswire. Atwood is currently the group head of business communications for BAT and is responsible for BAT’s external, internal and corporate brand communications. Atwood was designated as a board nominee by BAT in connection with its November purchase of convertible debenture in Charlotte’s Web.

    Atwood held senior management positions at Unilever, most recently leading global supply chain communications. Prior to that, he led sustainability and corporate communications for Unilever North America. Atwood is an advocate of sustainability and has worked closely with B Corps companies.

    Charlotte’s Web is the only publicly traded CBD B Corp-certified company.

    “We welcome Jonathan as a valuable addition to the board where he can support our international and sustainability ambitions. We look forward to working closely together on our mutually shared interests,” said John Held, chairman of the board of Charlotte’s Web.

    Atwood’s appointment brings the total number of directors on the Charlotte’s Web board to six.

    Last year, Charlotte’s Web Holdings Inc. became the first company to score a CBD sponsorship with Major League Baseball.

  • BAT Invests Nearly £50 Million in Charlotte’s Web

    BAT Invests Nearly £50 Million in Charlotte’s Web

    Photo: bukhta79

    BAT is investing £48.2 million ($57.4 million) in Charlotte’s Web Holdings. Based in Colorado, USA, and listed on the Toronto Stock Exchange, Charlotte’s Web offers cannabinoid extract wellness products.

    “The appeal of Charlotte’s Web is clear to us: a wide portfolio of high-quality products, strong brand equity, an extensive retail presence and robust B2C e-commerce platform serving a loyal U.S. consumer base, and a track record of in-depth scientific research,” said BAT Chief Growth Officer Kingsley Wheaton in a statement. “Our investment in Charlotte’s Web represents another step for BAT in our exploration beyond tobacco and nicotine,” Wheaton said.

    Last month, Charlotte’s Web became the first CBD company allowed to use the moniker “Official CBD of MLB.” Major League Baseball (MLB) said in June that it would allow teams to enter sponsorships with CBD marketers.

    Describing its relationship with MLB as a “multiyear, strategic partnership,” Charlotte’s Web issued 6,119,121 shares of its common stock to the sports organization—worth an estimated $4.4 million at the time.

    “This investment will provide Charlotte’s Web with funding that we anticipate will help unlock deeper and broader research and development that is key to our continued innovation, global footprint and the advancement of our intellectual property portfolio,” said Jacques Tortoroli, CEO of Charlotte’s Web.