Sotheby’s Braces for Fight as it Announces Appointment to Board

March 14th, 2014

Auction at Sotheby's, via New York TimesThe ongoing struggle for control at Sotheby’s has taken a new turn, with the auction house rejecting the board nominations proposed by Daniel Loeb’s Third Point LLC, and in turn naming Jessica Bibliowicz and Kevin Conroy for board seats. “The composition of your Board is something Sotheby’s takes very seriously, as the experience and expertise of its directors have been and will continue to be important to enabling the Company’s success,” the company said in an open letter to shareholders.

Read the letter at Sotheby’s