Charlotte’s Web posts ‘less-than-satisfactory’ third quarter amid exec shakeup

LOUISVILLE — It was a tumultuous third quarter for Charlotte’s Web Holdings Inc. (TSX: CWEB) (OTCQX: CWBHF) as the Louisville-based CBD company shook up its executive team amid declining financial performance and a shareholder revolt.

Charlotte’s Web’s net losses grew to $15.2 million on sales of $14.3 million in the recent period. That’s compared to a net loss of $7.6 million on sales of $17 million in the same period last year.  

“CBD product sales year-to-date remain below expectations due to ongoing headwinds in the overall CBD category, including regulatory ambiguities at the federal and state levels, associated…