BOULDER, CO, Aug. 14, 2019 /CNW/ - PRESS RELEASE - Charlotte's Web Holdings, Inc., a manufacturer of whole-plant hemp CBD extract products with naturally occurring cannabinoids, including cannabidiol (CBD), has announced that Russell Hammer has joined the company as Chief Financial Officer, effective tomorrow, Aug. 15, 2019.
Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte's Web as the company accelerates its growth and evolution into a global consumer packaged goods (CPG) brand. Hammer replaces Rich Mohr, who as CFO has overseen the company's successful transition to a publicly traded company and market leader in hemp CBD products.
"Russ's appointment aligns perfectly to support the company's evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A and accessing capital markets will help us scale the business in a financially stable way," said Deanie Elsner, CEO of Charlotte's Web. "I would also like to recognize Rich's valuable contributions setting up the company for this next phase of growth."
Hammer previously served as CFO of Brown Shoe Company, a footwear company recently rebranded as Caleres, where he helped the company reach $2.5 billion in annual sales and reorganize its portfolio of brands for growth. Prior to that, he played similar roles at Orbitz Worldwide, the online travel company, and Crocs, Inc. the shoe retailer. Hammer started his career at Motorola, Inc., where he served in a variety of senior finance roles.
"Russ is a natural fit for Charlotte's Web as the company continues to evolve and expand globally," said Mohr, who will support the CFO transition through an advisory role. "I'm proud of what we have accomplished in establishing a foundation for future growth and am pleased that the company's finances will remain in the hands of such a skilled and seasoned professional."