Charlotte's Web announced the appointment of William (Bill) Morachnick who has joined the company as its Chief Executive Officer. Mr. Morachnick has also been appointed to the Company's Board of Directors as a non-independent director. He replaces CEO Jacques Tortoroli who has elected to resign from his roles at Charlotte's Web.
Morachnick was president at Santa Fe Reynolds Tobacco International (SFRTI) GmbH in Zurich, Switzerland, an international business division of Reynolds American, Inc. from 2006 to 2016. He took SFRTI from a start-up to a highly profitable organization, managing several hundred employees and a network of importers/distributors operating in Europe, Asia, and the Middle East. SFRTI was acquired by Japan Tobacco Group in 2016 for $5 billion. Morachnick led the subsequent integration of the combined companies as Chief Executive Officer and Chairman based in Tokyo, Japan for two years before returning to the U.S. in 2018.
Since returning to the U.S. he has served as an executive advisor or board member for several companies seeking to launch and/or expand their businesses in the U.S. and overseas markets.
"Bill has an accomplished career building businesses in multiple categories," said John Held, Chairman of Charlotte's Web. "With his proven operational expertise Bill is well-suited to take the reins to lead the Charlotte's Web team through the next phase of the Company's growth opportunities."
