Hemp-CBD products company Charlotte’s Web Holdings has appointed Bill Morachnick as chief executive and board director, replacing Jacques Tortoroli, who resigned as CEO and from the company’s board.
However, Charlotte’s Web rejected the resignations of three other board directors after a withhold campaign by a group of activist shareholders in June, according to a Wednesday news release.
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Morachnick previously served as president of Santa Fe Reynolds Tobacco International and “led the subsequent integration” of the company after it was acquired by the Japan Tobacco Group.
Colorado-based Charlotte’s Web hailed Morachnick in the release as “a proven entrepreneurial professional skilled in taking companies global and creating and managing strategies for consistent and sustained growth.”
Outgoing CEO Tortoroli was appointed chief executive at the end of 2021. He had sat on the Charlotte’s Web board since November 2019.
Tortoroli’s departure comes after he and three other board members
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