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.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

lot18 sai-us