Former Reynolds American Executive Joins Charlotte's Web As New CEO
Portfolio Pulse from Jelena Martinovic
Cannabis company Charlotte's Web Holdings, Inc. has appointed William Morachnick as its new CEO, succeeding Jacques Tortoroli. Morachnick, a former executive at Reynolds American, has also been appointed to the company's board of directors. He has a track record of building premium brands and products across multiple channels worldwide. Charlotte's Web's shares traded 7.8969% lower at $0.3394 per share at the market close on Tuesday.
September 13, 2023 | 3:47 pm
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Charlotte's Web Holdings appoints new CEO and board member, William Morachnick. The company's shares traded lower at market close.
The appointment of a new CEO often leads to uncertainty in the market, which can negatively impact the stock price in the short term. This is reflected in the 7.8969% decrease in Charlotte's Web's share price.
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