Charlotte's Web Appoints Jeff Raborn to Board of Directors

Rhea-AI Summary

Charlotte's Web (OTCQX:CWBHF) appointed Jeff Raborn to its Board of Directors, effective May 28, 2026. Raborn was designated by BT DE Investments, a British American Tobacco (BAT) subsidiary, under a previously announced transaction that closed May 28, 2026.

Raborn is Executive Vice President, Law & External Affairs and General Counsel at Reynolds American, a BAT subsidiary, bringing more than 25 years of legal and regulatory experience. His appointment, made under an amended and restated investor rights agreement, is BAT's second board designation and increases Charlotte's Web's Board to seven directors.

AI-generated analysis. Not financial advice.

Positive

• Appointment of BAT-designated director Jeff Raborn effective May 28, 2026
• Board expanded to a total of seven directors
• More than 25 years of legal and regulatory experience added to board
• Strengthened governance link with strategic investor British American Tobacco

Negative

• None.

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Veteran Legal and Regulatory Executive Brings More Than 25 Years of Experience Across Private Practice and Highly Regulated Consumer Industries

Louisville, Colorado--(Newsfile Corp. - June 1, 2026) - Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) (Charlotte's Web or the Company), a botanical wellness innovation company and a market leader in hemp extract wellness, is pleased to announce the appointment of Jeff Raborn to its Board of Directors, effective May 28, 2026. Mr. Raborn has been designated to the Board by BT DE Investments Inc. ("BAT"), a subsidiary of British American Tobacco p.l.c. (LSE: BATS) (NYSE: BTI), in connection with the Company's previously announced transaction with BAT that closed on May 28, 2026 (the "Transaction").

Mr. Raborn has served since March 2018 as Executive Vice President, Law & External Affairs and General Counsel of Reynolds American, Inc., a subsidiary of British American Tobacco p.l.c., where he oversees the company's legal, regulatory, and external affairs functions. He joined Reynolds American in 2004 and, prior to assuming his current role, served as Senior Vice President, Litigation and Regulatory, and Deputy General Counsel within the RAI Group. Mr. Raborn also previously served as Chairman of the Reynolds American Foundation.

Prior to joining Reynolds, Mr. Raborn practiced law in New Orleans and Baton Rouge, representing clients including Ford, Hyundai, Toyota, Kia, Black & Decker, Exxon, and Shell in product and premises liability matters. He also represented Exxon, Texaco, Shell, and Chevron before the Louisiana Public Service Commission. Mr. Raborn earned a bachelor's degree in history and a Juris Doctor from Louisiana State University.

"Jeff’s extensive legal, regulatory, and governance experience across highly regulated consumer industries brings valuable insight to the Board as we navigate an increasingly dynamic  regulatory environment. His appointment also further strengthens our  strategic relationship with BAT and reflects our shared commitment to supporting the Company’s long-term growth and success following the completion of the Transaction," said Angela McElwee, Chair of Charlotte’s Web.

"I am honored to join the Board at a significant moment in the Company's evolution, and I look forward to contributing to Charlotte's Web's strategic objectives and supporting long-term value creation for all stakeholders," said Jeff Raborn.

Mr. Raborn's appointment was made pursuant to BAT's right to designate a second member to the Board of Directors under the terms of the amended and restated investor rights agreement dated May 28, 2026 and brings the total number of Directors to seven.

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and a market leader in hemp extract wellness that includes Charlotte's Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD and cannabinoid isolates. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBN, CBC, CBG, THC, terpenes, flavonoids, and other beneficial compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, hemp-derived THC microdose gummies, functional mushroom gummies, CBD capsules, CBD topical creams, and lotions, as well as CBD pet products for dogs. Through its substantially vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with analytic testing from soil to shelf for quality assurance. Charlotte's Web products are distributed to retailers and healthcare practitioners throughout the U.S.A. and are available online through the Company's website at www.charlottesweb.com.

Shares of Charlotte's Web trade on the Toronto Stock Exchange (TSX) under the symbol "CWEB" and are quoted in U.S. Dollars in the United States on the OTCQX under the symbol "CWBHF". Subscribe to Charlotte's Web investor news.

For more information:

Cory Pala
Director of Investor Relations
(720) 484-8930
Cory.Pala@CharlottesWeb.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299722

FAQ

What board change did Charlotte's Web (OTCQX:CWBHF) announce on June 1, 2026?

Charlotte's Web announced the appointment of Jeff Raborn to its Board of Directors, effective May 28, 2026. According to Charlotte's Web, Raborn joins as a BAT-designated director, increasing the board size to seven members under an amended investor rights agreement.

Who is Jeff Raborn, newly appointed to Charlotte's Web (CWBHF) Board of Directors?

Jeff Raborn is Executive Vice President, Law & External Affairs and General Counsel at Reynolds American. According to Charlotte's Web, he brings over 25 years of legal and regulatory experience in highly regulated consumer industries and has held senior roles within the Reynolds American group.

How is British American Tobacco involved in Charlotte's Web (CWBHF) board appointment?

British American Tobacco, through subsidiary BT DE Investments, designated Jeff Raborn to Charlotte's Web's board. According to Charlotte's Web, this designation follows a transaction closing May 28, 2026 and reflects BAT's right to appoint a second director under an amended investor rights agreement.

When did Jeff Raborn’s appointment to Charlotte's Web (CWBHF) board become effective?

Jeff Raborn’s appointment to Charlotte's Web’s Board of Directors became effective on May 28, 2026. According to Charlotte's Web, his appointment coincides with the closing date of the previously announced transaction with British American Tobacco and is made under an updated investor rights agreement.

How many directors now serve on Charlotte's Web (CWBHF) Board after Jeff Raborn’s appointment?

Charlotte's Web now has a total of seven directors on its Board following Jeff Raborn’s appointment. According to Charlotte's Web, Raborn is the second director designated by British American Tobacco under the amended and restated investor rights agreement dated May 28, 2026.

What experience does Jeff Raborn bring to the Charlotte's Web (CWBHF) Board of Directors?

Jeff Raborn brings over 25 years of legal and regulatory experience across private practice and regulated consumer industries. According to Charlotte's Web, he oversees legal, regulatory, and external affairs at Reynolds American and previously held senior litigation and regulatory roles within the RAI group.