11/25/2023 0 Comments Tad smith gayIt said that Domenico De Sole, former chief executive In its announcement on Monday, Sotheby’s said it was also splitting the jobs of chief executive and chairman of the board, both of which are held by Mr. Murphy, was departing after four years, suggesting to some analysts that,ĭespite high prices and booming gross revenue, the auction house might not have been making sufficient profits to satisfy its owner. Ruprecht announced last November that he was stepping down, Christie’s announced that its chief executive, Steven P. Sotheby’s has struggled to increase its profits, in part because of an intense battle for market share with Christie’s that has led both auction houses to discount or give away commissions and other fees “The market for art is very large, it is global and there is an immenseĪmount of new wealth being created every year,” he said. Smith said he could not add to the expertise of Sotheby’s art experts, but he could act as a business catalyst. At Cablevision, he was president of local media and his responsibilities includedĭigital and television advertising sales and the operations of the News 12 local television channels as well as the Newsday media group. is controlled by the family of Charles Dolan. Before that, he spent five years at Cablevision Systems, which like M.S.G. Smith had spent a year as chief executive of the Madison Square Garden Company, which, among other businesses, owns the New York Knicks basketball team, the New York Rangers hockey team and Radio City Smith, 49, who describes himself as an art enthusiast but has no corporate experience in that market, enters an industry in flux as it confronts questions of profitability and how to expand into new global marketsĪnd respond to challenges posed by the Internet, where the selling of items has grown. Sotheby’s reached outside the art world on Monday to appoint Tad Smith, a businessman with a background in the entertainment, sport and media industries who most recently led the Madison Square Garden Company, to replace the departing chief executive, William F. Tad Smith Credit Joshua Bright for The New York Times
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