Charlotte’s Web appoints Tim Saunders to Board of Directors
By Canadian Manufacturing
DENVER — Charlotte’s Web Holdings, Inc., a company involved in hemp CBD extract products, announced the appointment of Tim Saunders to its Board of Directors.
Tim Saunders was Chief Financial Officer of Canopy Growth Corporation from its entrepreneurial beginning and led its public up-listing to the Toronto Stock Exchange, and subsequently to the New York Stock Exchange. During his tenure he oversaw more than C$6.4 billion in financings, 31 acquisitions, and an increase in market capitalization from approximately C$100 million to C$20 billion, as the world’s largest cannabis company.
Mr. Saunders has built experience under the cannabis regulatory regimes for compliant management of corporate financing, M&A, business transformations, and financial reporting in Canada and the U.S. He has a global cannabis market perspective and is familiar with the Canadian cannabis market including the licensing and regulatory oversight under Health Canada.
Most recently Mr. Saunders was CFO for Collective Growth Corporation, a SPAC (special purpose acquisition company) which successfully raised US$150 million and recently completed a merger and public listing on the Nasdaq at a capitalization of US$1.4 billion. As a part of this venture Mr. Saunders evaluated hemp businesses around the world from over 170 potential targets reviewed, gaining a deep perspective on the developing global hemp supply chains and related regulatory status across several countries.
Prior to Canopy Mr. Saunders held financial executive and leadership roles across a number of sectors including mobile, telecom, semiconductors, manufacturing and clean tech. He has expertise in establishing financial management and control with responsibilities for the full span of finance operations, leading change, and strategic planning and execution.
“Tim has deep knowledge of the global hemp and cannabis markets and has worked both in Canada and Europe,” added Deanie Elsner, CEO of Charlotte’s Web. “Charlotte’s Web has disclosed its intent to expand into Canada, Israel, Europe, and the U.K. where Tim has valuable strategic and regulatory insight. This year we planted our first hemp crop in Canada, where we also have an opportunity to eventually expand into cannabis wellness with THC concentrations above 0.3%. Tim brings our board tremendous Canadian experience and networks.”
Mr. Saunders, will serve on the Corporate Governance and Audit Committees, bringing the number of Directors to six.