sothebys

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.