Wheels Up Names New Board Sans Founder Kenny Dichter
Who's in and who's out at the private jet charter company.
Wheels Up has reconstituted its board of directors concurrent with receiving up to $350 million in term loan financial support and a $100 million revolving loan from an investor consortium led by Delta Air Lines. Before that deal closed on September 20, Delta already had provided Wheels Up with $70 million since August 8 under an amended promissory note.
Concurrent with the resignations, Wheels Up announced the appointment of new board members including incoming CEO George Mattson; Delta president for international and former Bombardier CEO Alain Bellemare; Adam Cantor, a partner with Wheels Up investor Knighthead; Zachary Lazar, a director with Wheels Up investor Certares; and Andrew Davis, senior v-p of strategy and investments for Wheels Up investor Cox Enterprise.