Charlotte’s Web Holdings (OTCMKTS: CWBHF), which is engaged in the production and distribution of hemp-based cannabidiol (CBD) wellness products, has named Stephen Lermer as chief operating officer. The appointment became effective January 28.
Lermer will oversee all aspects of the company’s manufacturing, supply chain, research & development, legal and regulatory affairs, quality assurance and control, engineering, cultivation and operations management functions, Charlotte’s Web said Jan. 31 in a press statement.
Lermer is a pharmaceutical industry veteran. He held senior leadership and executive positions at DuPont, Johnson & Johnson, Burroughs Wellcome (now GlaxoSmithKline), Rhone Poulenc (now Sanofi), Orion Oyj and Akela Pharma.
Lermer has more than 38 years of experience overseeing start-up, mid and large-scale global pharmaceutical, cosmetic and consumer-packaged goods operations, product development and commercialization, and manufacturing and distribution, according to Charlotte’s Web.
“Stephen is a valuable and timely addition to our evolving leadership team,” Charlotte’s Web CEO Hess Moallem stated. “His appointment dramatically expands our domestic and international operational capabilities and brings high level pharmaceutical quality and operating expertise to our organization.”
Lermer has filled the newly-created position of the COO. Charlotte’s Web was in a need of an experienced COO to better manage the company’s operations.
“As the company’s annual cultivation and production materially increase, operating efficiencies become increasingly critical. Applying big pharma operating discipline to large-scale processing can pay meaningful dividends in terms of product quality, consistency and cost,” the company said in the statement.
“Stephen’s hire further reaffirms Charlotte’s Web’s unwavering commitment to producing exceptionally high-quality products for our customers. The pharmaceutical industry operates under high regulatory and product quality standards and strict regulatory compliance protocols. Charlotte’s Web is also committed to best practices for regulatory and operational oversight for our CBD manufacturing and products. Stephen brings tremendous global pharma operating experience to support this mission,” Charlotte’s Web Chairman and Co-Founder Joel Stanley stated.
Shares of Charlotte’s Web closed up 3.66% on Wednesday.