Wheels Up Adds Execs As It Faces Challenges

There's been a shakeup in the executive suites at charter membership pioneer Wheels Up as it works through financial and operational woes. Chief Marketing Officer Lee Applebaum, who held the post since 2020, left the company on Tuesday. According to Private Jet Card Comparisons, Wheels Up said he was leaving to pursue "personal and entrepreneurial ventures." Meanwhile, Wheels Up has announced it's hiring former Cigna CMO and IBM executive Kristen Lauria as its Chief Customer and Marketing Officer to replace Applebaum.

Wheels Up has also hired David Godsman as Chief Digital Officer. He most recently held a similar post at Coca Cola. Both will report to founder and CEO Kenny Dichter. The company has lost hundreds of millions of dollars since going public in 2021. It's at risk of being delisted by the New York Stock Exchange and stockholders will vote on a remedy for that involving a reverse stock split at the end of May. The company is hoping to cut losses to no more than $130 million in 2023. Wheels Up intends to be profitable in 2024.