Tad Smith, who oversaw JCK when it was part of Reed Business Information, has joined Sotheby’s as president and CEO.
He will replace longtime chairman, president, and CEO William Ruprecht on March 31.
Smith, 49, has been president and CEO of the Madison Square Garden Co. since February 2014. Prior to that, he headed Cablevision.
Ruprecht has served as CEO of Sotheby’s since 2000. Last year, activist investor Daniel Loeb bought nearly 10 percent of the company and launched a proxy battle that included calls for Ruprecht’s resignation. Six months after the Sotheby’s board expanded to include three Loeb-allied directors, Ruprecht announced his resignation.
Smith “is a proven leader and value creator with CEO experience, strategic vision, brand-building expertise, an ability to understand and serve client needs, and a track record of driving revenue and profit growth,” said lead independent director Domenico De Sole in a statement. “He also has a passion for art and collectibles.”
Smith headed the U.S. branch of Reed Business Information, former parent company of JCK, from 2005 to 2009. He left the company at the same time parent Reed Elsevier announced it was selling most of the division.
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