Charlotte's Web Hires New Chief Operating Officer
Leading cannabidiol (CBD) products maker Charlotte's Web today named David Panter, the former vice president of global supply chain at Estée Lauder Company, as its new chief operating officer.
According to a LinkedIn profile, Panter has served in a variety of supply chain roles across multiple industries over the last 20 years.
Before joining Estée Lauder, Panter spent more than two years with packaging supplier WestRock, one year with Thyssenkrupp Elevator Company, and about five years with eyewear conglomerate Luxottica. He also had stints with food manufacturer Campbell Soup Company and healthcare products company Covidien, among others.
“David's proven track record in global supply chain optimization and operational excellence across multiple industries makes him a valuable and timely addition to our top-tier management team," Charlotte’s Web CEO Deanie Elsner said via a press release.
Panter fills the vacancy left by former COO Stephen Lermer, who departed Charlotte’s Web on January 31, 2020.
In a press release, the Boulder, Colorado-headquartered CBD manufacturer and distributor said Panter would oversee a new 137,000 sq. ft. facility and report directly to Elsner.
Charlotte’s Web last week reported its fourth quarter and full-year 2019 earnings. Revenue grew 36%, to $94.6 million, but the company posted an adjusted EBITDA loss of $1.7 million.
It also announced an agreement to acquire Abacus Health Products, which makes the CBDMedic products endorsed by former NFL star Rob Gronkowski, in an all-stock transaction valued at $69 million.
Charlotte’s Web harvested 2.34 million pounds of hemp biomass and grew its retail presence to more than 10,000 doors in 2019. Once the purchase of Abacus Health is complete, Charlotte’s Web will control about 35% of the food, drug and mass-market retail share.
"In 2019 we began a transition from startup to a standup CPG company capable of servicing the mass retail channels," Elsner said via a release.
Links to press releases with additional details can be found below.