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Sotheby’s Names New CEO Following Takeover
Oct 29, 2019 9:34 AM
By Rapaport News
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RAPAPORT... The media tycoon who recently bought Sotheby’s has appointed a senior executive from his business empire as the auction house’s new CEO.
Charles Stewart will assume the role with immediate effect, having served as copresident and chief financial
officer of Patrick Drahi’s Altice USA since 2016. He helped lead that company’s successful $2.1
billion initial public offering in 2017, and was instrumental in driving
innovation and growth, Sotheby’s said Tuesday.
Stewart has also worked in the
banking and finance sectors, most notably as CEO for Itau BBA International, the holding
company for Itau-Unibanco, the largest bank in Latin America.
“Charlie is a talented executive who brings years of
international experience to Sotheby’s,” Drahi noted. “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.”
Stewart succeeds Tad Smith, who is stepping down after four-and-a-half
years. Smith will become a shareholder of the company, and act as a senior
adviser to Stewart.
Smith is not the first Sotheby’s employee Drahi has replaced
with a member of his own team since acquiring the auction house for $3.7
billion in June. Earlier this month, he installed Jean-Luc Berrebi, the head of
his family office, as chief financial officer succeeding both Mike Goss, the
head of finance, and John Cahill, executive vice president and chief commercial
officer.
Image: Charles Stewart. (Sotheby’s)
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Tags:
Auctions, Charles Stewart, Jean-Luc Berrebi, John Cahill, Mike Goss, Patrick Drahi, Rapaport News, Sotheby’s, Tad Smith
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