Troubled Wine Startup Lot18 Has A New CEO

Lot18, Wine

Closing out a tumultuous year, online wine seller Lot18 has promoted its chief marketing officer, Jay Sung, to CEO.

Cofounder Kevin Fortuna’s LinkedIn profile still lists him as CEO, though Business Insider learned in June that Fortuna, after a series of layoffs and executive departures at the startup, no longer had a day-to-day role at the company.

A Lot18 representative confirmed that Fortuna was most recently Lot18’s CEO but had left that position months ago.