Sotheby's says Loeb slate 'adds no incremental relevant expertise' Sotheby's last night in a regulatory filing presented a slide presentation against Third Point's slate of board nominees. The auction house said its capital allocation strategy "creates and delivers long term value to shareholders." Sotheby's claims Third Point has made "no case that change is warranted" while the slate of board nominees recommended by Dan Loeb "adds no incremental relevant expertise" to the board.
Sotheby's names Tad Smith as president and CEO, effective March 31 Sotheby’s (BID) announced that its Board of Directors has concluded its CEO search and appointed Tad Smith as President and CEO, effective March 31. Smith will also join the Sotheby’s Board of Directors. He succeeds William F. Ruprecht who has served as CEO since 2000. Smith has been President and CEO of the Madison Square Garden Company (MSG) since February 2014. In this role, he oversaw the overall strategy and day-to-day operations of MSG Sports, MSG Media, and MSG Entertainment.