Charlotte’s Web Holdings is looking for a new CEO as it brings on a marketing expert from the world’s largest beverage maker to chart new growth plans.
The CBD manufacturer announced Thursday that it had hired Eugenio Mendez, a former vice president of The Coca-Cola Co. who focused on global marketing for the beverage giant’s water, enhanced water and sport drinks category.
Charlotte’s Web, which trades on the Canadian Securities Exchange as CWEB, doesn’t currently make beverages. But the Colorado-based company cited Mendez’s global marketing expertise in announcing his hire.
The company also announced that its CEO since 2017, Hess Moallem, is moving to an advisory role and giving up his seat on the board.
In a statement, Charlotte’s Web said it is looking for a CEO with deep experience in consumer packaged goods.
Moallem was brought on to steer the Colorado company through its IPO last summer.
“Our evolution will include bringing on a CPG-focused CEO to position the company to dominate the future landscape of the industry,” Moallem said in the statement.