Displaying items by tag: board of directors

After a tumultuous year, Sotheby's,  announced that its Board of Directors has concluded its CEO search and appointed Tad Smith, as president and chief executive officer, effective 31 March 2015.  Smith will also join the Sotheby's board of directors.

Smith, 49, was formely president and CEO of the Madison Square Garden Company (since February 2014). He oversaw the overall strategy and day-to-day operations of MSG Sports, MSG Media, and MSG Entertainment.

One of the harshest battles between an activist investor and a company came to an end on Monday, when Sotheby’s announced it had reached a deal with hedge fund billionaire Dan Loeb.  Third Point, run by Loeb, won a partial victory, securing three board spots and the removal of a poison pill that will allow it to raise its stake in the company to 15%, yet he didn’t manage to force embattled CEO Bill Ruprecht to ease his grip on the company, as he’s manage to hold on to his job while remaining president and chairman of the board of directors.

The Museum of Fine Arts in Boston has returned 14 Maine Shaker items to the United Society of Shakers at Sabbathday Lake.

The items have historic significance to the Sabbathday Lake Shakers and the former Alfred community where they were used.

A red kilo dairy tub used by Sister Aurelia Mace has her name etched on the bottom, and experts verified Sister Deborah Fuller’s Native American basket.

The nonprofit Architectural League of New York is the latest party asking the Museum of Modern Art to reconsider their decision to raze the former home of the American Folk Art Museum. The organization wrote an open letter signed by members of its board of directors to MoMA on Monday, April 22, 2013. Prominent architects such as Richard Meier, Thom Mayne, Steven Holl, Hugh Hardy, and Robert A.M. Stern voiced their support against the demolition of the building, which was designed by notable New York-based architects Tod Williams and Billie Tsien.

The monumental building, which features a sculptural bronze façade, was erected twelve years ago on West 53^rd Street by the American Folk Art Museum. After the institution fell into financial turmoil, the building was sold to MoMA and the Folk Art Museum moved to a smaller location. Now, as plans for an expansion gain steam, MoMA has announced their decision to level the building. Officials justified the ruling by claiming that the Folk Art Museum’s former home didn’t mesh with MoMA’s sleek glass façade and that structure’s location was logistically problematic as it is slightly set back from MoMA’s main building.

The decision to demolish the structure, which has quickly become a Midtown landmark, has been met with a wall of opposition. Last week, a New Haven, CT resident, Robert Bundy, launched a petition against MoMA’s decision and garnered over 2,000 signatures in a matter of days.

As it stands, MoMA expects to begin renovations in 2014 by which time the Folk Art Museum’s former home will be destroyed.