Charlotte's web stock is trading in the green Monday after the cannabis company said it'll have a new CEO effective May 15, 2019. Playing into today's trading results is likely the fact that the new CEO of Charlotte's Web Holdings (CSE:CWEB) (OTCQX:CWBHF) isn't a no-name.
Here's what we know.
Charlotte's Web Stock: New CEO Impacting Trading Results
On Monday, April 29, Charlotte's Web Holdings, a Boulder, Colorado-based company, said Adrienne (Deanie) Elsner will join the company as CEO on May 15.
Now, it's not surprising to see Charlotte's Web stock reacting positively to the news. For starters, Elsner is the former President of US Snacks division at Kellogg Company (NYSE:K), a cookie and cracker manufacturing company. Secondly, because of this experience (25 years worth), Elsner is recognized as someone who drives business results. When Elsner worked for Kellogg Company, she transformed the Snack Business Unit. Specifically, she did this by shifting to occasion-based marketing and leaving the direct store delivery distribution system.
For these reasons and more, it makes sense that Charlotte's Web stock is up 5% today on the OTC market. As of 1:26 PM EDT, CWBHF is trading at $20.00, which puts the cannabis stock up 5.38%. Meanwhile, on the CSE, CWEB stock is trading at $26.87, which puts the cannabis stock up 5.25%, as of 1:22 PM EDT and according to Yahoo Finance.
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What the Company has to Say about its New CEO
"Deanie’s appointment is timely and aligns perfectly with our corporate evolution," says current Charlotte's Web CEO Hess Moallem, adding: "Deanie is an incredibly dynamic business leader with an impressive track record for growth."
Further, with Deanie's experience in marketing, Charlotte's Web Holdings believes this will have a significant impact on the growth of the company. "Placing world-class marketing and sales expertise at the highest level of the Company is critical to further extend Charlotte’s Web’s leadership position in the market," says Hess Moallem.
Takeaway
What do you think about the former Kellogg Company President joining Charlotte's Web Holdings? Do you think the move will have an impact not just on the growth of the company but on Charlotte's Web stock as well?
Let us know what you think in the comments below!
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