Charles F. Stewart Appointed as Sotheby’s CEO

On October 28, Sotheby’s announced the appointment of Charles F. Stewart as its new chief executive officer, effective immediately. Stewart was formerly co-president and chief financial officer of Altice USA, a cable television provider owned by French-Israeli telecommunications magnate and art collector Patrick Drahi, who purchased Sotheby’s for USD 3.7 billion earlier this year. Stewart succeeds Tad Smith, who had headed the auction house since 2015. Smith will remain on board as a senior advisor to Stewart, and will become a shareholder of the company.

Speaking of Stewart’s appointment, Drahi said in a statement: “Charlie is a talented executive who brings years of international experience to Sotheby’s. I have known him for many years and have been impressed by his appetite for innovation, taking smart risks, and challenging the status quo. He has a proven record of driving growth and is ideally positioned to create value for Sotheby’s clients and our outstanding team.”

The auction house first announced its return to private ownership on June 17, when it signed a definitive merger agreement with BidFair USA, owned by Drahi. The sale was officially closed earlier this month. Since then, Drahi has also replaced Sotheby’s chief financial officer Mike Goss and executive vice president John Cahill with Jean-Luc Berrebi, who was formerly chief executive officer of Drahi’s family office. 

Lauren Long is ArtAsiaPacific’s news and web editor.

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