Charlotte's Web Holdings, Inc. announced the appointment of Matthew E. McCarthy to its Board of Directors, effective immediately. Mr. McCarthy is the former CEO of Ben & Jerry's Homemade, bringing a unique blend of commercial acumen and deep commitment to social impact within the consumer-packaged goods (CPG) and natural products industries. Mr. McCarthy most recently served as the CEO of Ben & Jerry's from July 2018 through April 2023 where he led the company through its most significant period of growth to take the #1 market share position in the U.S. ice cream market and operating in over 30 international markets.

He was also a member of Ben & Jerry's Board of Directors. During his 26-year tenure at Unilever, Mr. McCarthy held several executive leadership positions including Vice President and General Manager Foods North America, and Senior Director and General Manager US Deodorants and Men's Grooming, among others. Mr. McCarthy is recognized for his transformative leadership and has been credited with significantly growing revenue, market share, and brand equity in his previous roles.

His achievements demonstrate his ability to understand and leverage consumer trends in the CPG industry and excel in brand development and market penetration in diverse market sectors. He has also been a key figure in driving innovation, sustainability, and social mission initiatives, skills that will contribute to Charlotte's Web's continued innovation and market leadership in the hemp-derived CBD wellness industry. Mr. McCarthy replaces Susan Vogt who is retiring from Charlotte's Web Board.

McCarthy holds a Master of Business Administration in Marketing from Hofstra University and a Bachelor of Arts in Political Science from the University of Massachusetts. His notable career is complemented by numerous recognitions and awards, reflecting his commitment to business excellence and ethical leadership. Mr. McCarthy will serve on the Company's Compensation Committee and Audit Committee.