Charlotte’s Web Announces Former Coca-Cola Executive As New Chief Growth Officer

Today Charlotte’s Web (CWEB) announced that Eugenio Mendez has joined the Company in the newly formed role of Chief Growth Officer effective January 15, 2019. Mr. Mendez comes to Charlotte’s Web from the Coca-Cola Company based in Atlanta, GA, in which he functioned as Vice-President, Global Marketing of Water, Improved Water and Sport Drinks – among Coca-Cola’s fastest growing categories.

As the organization’s Chief Growth Officer, he will direct the organization’s business growth, marketing and sales purposes.

“We’re very excited to own Eugenio officially join our Business. Within the last sixteen months, I have had the opportunity to work closely with Eugenio and have been impressed with his international vision and expertise over the consumer-packaged products (“CPG”) sector,” said Hess Moallem, President and CEO of Charlotte’s Web.

The new leadership inclusion is that the first of many appointments which will be made in 2019 to encourage Charlotte’s Web’s expansion and development to a worldwide CPG retail manufacturer. A CEO transition is planned in 2019 to encourage the Company’s continued development from a pioneering neighborhood market player to the national category leader it is today. With increased access to top-tier executive ability after the recent death of this 2018 Farm Bill and removal of hemp in the Controlled Substances Act (“CSA”), further executive leadership growth is underway in corporate development, M&A, operations, engineering and other regions.

Mr. Moallem joined Charlotte’s Web in 2017 to scale and position the Business to be able to meet the anticipated market demand and lead the Company through a extensive longform IPO process while placing in place compliance plans such as CSA and FDA regulations. Mr. Moallem proceeds as the Company’s CEO until his successor has been appointed, a search process the Board of Managers will start immediately. Adhering to a CEO transition, Mr. Moallem will remain on with the Company in an advisory role. Mr. Moallem is relinquishing his plank position to additional support the pending transition.

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