---
schema_version: "secwatch.filing_event.v1"
accession: "0001279569-23-001174"
form_type: "8-K"
ticker: "CWBHF"
cik: "0001750155"
company_name: "Charlotte's Web Holdings, Inc."
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:14:10.755041+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Charlotte's Web appoints Bill Morachnick as CEO; Tortoroli departs

## Summary
- William Morachnick named CEO and non-independent director effective Sept 13, 2023, replacing Jacques Tortoroli.
- Morachnick base salary $450k, relocation up to $25k, and 4.5M RSUs vesting over 3 years plus 500k immediately vested RSUs.
- Tortoroli's departure is not due to any disagreement with accounting practices; Board accelerated his unvested RSUs.
- Board rejected resignation offers from directors John Held, Thomas Lardieri, Alicia Morga, and Jacques Tortoroli under Majority Voting Policy.
- Morachnick previously led SFRTI, a Reynolds American unit, through its $5B sale to Japan Tobacco in 2016.

## SEC filing metadata
- accession: 0001279569-23-001174
- form_type: 8-K
- ticker: CWBHF
- cik: 0001750155
- company_name: Charlotte's Web Holdings, Inc.
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750155/000127956923001174/0001279569-23-001174-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750155/000127956923001174/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001279569-23-001174
- JSON: https://secwatch.observer/filing/0001279569-23-001174.json
- Plain text: https://secwatch.observer/filing/0001279569-23-001174.txt

## Key facts
- Executive change
  William Morachnick was appointed as Chief Executive Officer at Charlotte's Web Holdings, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On September 13, 2023, Charlotte’s Web Holdings, Inc. (the “Company”) announced the appointment of William Morachnick, age 59, as the Company’s Chief Executive Officer effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750155/000127956923001174/0001279569-23-001174-index.htm
- Executive change
  William Morachnick was appointed as Non-independent Director at Charlotte's Web Holdings, Inc..
  - Action: appointed
  - Role: Non-independent Director
  source text: Along with assuming the role of Chief Executive Officer, Mr. Morachnick will be appointed as a non-independent director for the Board of Directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750155/000127956923001174/0001279569-23-001174-index.htm
- Executive change
  Jacques Tortoroli departed as Chief Executive Officer at Charlotte's Web Holdings, Inc..
  - Action: departed
  - Role: Chief Executive Officer
  source text: Mr. Morachnick will replace the Company’s Chief Executive Officer, Jacques Tortoroli, who will depart the Company effective September 13, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750155/000127956923001174/0001279569-23-001174-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.