CHARLOTTE — cbdMD, Inc. announced today that Scott Coffman, the co-founder of the brand cbdMD, has been appointed as co-chief executive officer effective immediately.
Coffman will share CEO duties with Martin A. Sumichrast.
Sumichrast will remain chairman of the board and Coffman will remain a board member.
In addition, Caryn Dunayer, the co-founder of the brand cbdMD, has been appointed as president of the company effective immediately.
Sumichrast will continue to focus on shareholder and public company aspects while Mr. Coffman will oversee the operational aspects of the company.
The shakeup comes after the Charlotte-based company, formerly known as Level Brands, acquired cbdMD as part of its recent mergers with Cure Based Development LLC.
Level Brands subsequently changed its name to cbdMD.
“In December of 2018, Scott and Caryn joined our company when we purchased the cbdMD brand. Both Scott and Caryn are extremely versatile and talented brand builders. With the rebranding of our company now complete, I believe their experience and knowledge will be an asset in propelling cbdMD forward as we execute on our mission to become the most trusted CBD brand in America,” Sumichrast said in a statement.
cbdMD, Inc. owns and operates the nationally recognized consumer cannabidiol (CBD) brand cbdMD whose current products include CBD tinctures, CBD gummies, CBD topical, CBD bath bombs, CBD oils, and CBD pet products.