Sotheby's (BID) announced that its board elected William Ruprecht as Chairman of the Board of Directors, a role he will assume in addition to his current duties as President and Chief Executive Officer.
The company stated that Michael Sovern, who has served as Chairman of the Board for 13 years, will remain on the Board. Steven Dodge was unanimously approved by the Board as Lead Independent Director. The appointments are effective immediately.
Ruprecht assumes the role of Chairman today after a 32-year career at Sotheby's that has taken him from an administrator's post in the Rug department to head of a global organization. Ruprecht was named President and CEO in February 2000 at the same time Sovern was appointed Chairman. Prior to that, Ruprecht served as Managing Director of Sotheby's North & South America for six years.
Dodge today assumes a role that is new to the Sotheby's Board, although he is a veteran of Company leadership, having served as a Director from 2000 to 2007. Dodge is the CEO and principal of a private real estate development and construction company, Windover Development LLC, and for almost a decade, until 2004, he served as Chairman of the Board of American Tower Corporation and as President and Chief Executive Officer of that company until 2003. Prior to American Tower, Dodge served as the Chairman, President, and CEO of American Radio Systems Corporation.
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