Charlotte's Web Holdings, Inc. has completed a reorganization to drive agility and growth as the Company prepares to launch new products, channels and markets, with intent to return to positive cash flow in 2022. The changes follow the Company's new leadership announcement issued on December 16, 2021. Charlotte's Web has transitioned to a horizontal organizational structure to empower employees with increased decision making and accountability.

This enables more efficient collaboration and creativity, driving faster response times and better customer service. The simplified structure also reduces costs and aligns employees more closely with business goals. Charlotte's Web began as a mission of compassion before it was a business, with seven brothers helping a little girl in need – and subsequently helping thousands of others that would follow.

This was Charlotte's Web's founding corporate culture and mission to improve health through the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it. The reorganization marks a return to the founding principles of a passionate, fast-moving entrepreneurial spirit.