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Sotheby's Murdoch Informs Board Of His Intention Not To Stand For Re-election

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3/17/2012 4:08 AM ET

Sotheby's (BID: Quote) said in a filing that James Murdoch informed the Board of Directors of his intention not to stand for re-election at the May 8, 2012 Annual Meeting of Shareholders in order to focus on his core responsibilities at News Corp., where he serves as Deputy Chief Operating Officer.

James Murdoch has been a valued member of the Sotheby's Board and during his period of tenure, the company has benefitted from his broad-based marketing and brand management skills, his guidance regarding the company's strategic initiatives in Asia and his insight into digital media, among other things.

Further, Sotheby's will seek to find opportunities to continue to engage with Murdoch in the areas of his expertise.

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by RTT Staff Writer

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