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┬ástill 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.

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