Charlotte's Web Holdings, Inc. has named Jacques Tortoroli, former chief administrative officer of Bacardi Ltd., as chief executive officer, succeeding outgoing CEO Deanie Elsner.

Tortoroli, who also served as president of Bacardi International Limited, brings global executive leadership experience. His 40-year career includes launching ecommerce 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.

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.

"Jacques'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.

Charlotte’s Web also announced 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 cfficer, 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 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."

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