Gogo CEO Michael Small resigned last night. The departure, according to a press release was "mutual" between him and the board of directors to leave as president, CEO, and as a director of the company. Small was replaced by Gogo board member Oakleigh Thorne effectively immediately.
In-flight Wi-Fi is a necessity for airlines, but flying passengers aren't paying as much as expected. Gogo is moving from a business model where it sold directly to customers to a reseller model where airlines pay for capacity and set their own prices.
Complains about reliability, including a switch by American Airlines to ViaSat, have lead to a loss in customers. GoGo hoped to break even in 2019 or 2020, but the company has over a billion dollars of debt while its total stock value is around $815 million.