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Edible Heirlooms, Dan Loeb and the Online Art Market

Edible Heirlooms, Dan Loeb and the Online Art Market

Hedge fund manager Dan Loeb, the new majority shareholder in Sotheby's with a 9.3% stake, released a vehement public letter this morning to Sotheby's CEO Bill Ruprecht. Citing poor leadership, lack of digital strategy and wasteful spending on lavish farm-to-table corporate dining events, Loeb called for an immediate replacement of Ruprecht.