Outgoing Christie’s CEO Steven Murphy, who had been chief executive since 2010, says he has no plans to join rival Sotheby’s.OLIVIA HARRIS/Reuters
Steven Murphy will step down as chief executive officer of auction house Christie's International PLC, less than two weeks after the leader of rival Sotheby's announced his resignation.
Patricia Barbizet, the current chairman of London-based Christie's, will become the first woman chief executive of the auction house. Christie's is a closely held company owned by the French billionaire François Pinault.
Mr. Murphy "successfully placed Christie's in its current position of unprecedented strength," Mr. Pinault said in an e-mailed statement. "Christie's is now well placed to take the next step in its development under Patricia Barbizet to reach new levels of achievement."
Mr. Murphy, who has been CEO since 2010, helped Christie's venture into new markets in India and China and build online auction sales. Christie's sold a record $852.9-million (U.S.) of postwar and contemporary art in an auction on Nov. 13 that set 11 all-time-high prices for artists including Georg Baselitz, Cy Twombly, Ed Ruscha and Cindy Sherman.
"We have now successfully concluded an ambitious three year plan and the company is in the strongest leadership position in its history," Mr. Murphy said in an e-mailed statement.
Sales of art and collectibles rose to a record £2.7-billion pounds ($4.6-billion) in the first six months of the year as purchases of contemporary works and demand from new clients surged. That's an increase of 12 per cent from the same period in 2013, Christie's said.
William Ruprecht, the CEO of Sotheby's for 14 years, said on Nov. 20 that he would step down, six months after the New York-based auction house ended a bitter proxy battle with billionaire activist investor Daniel Loeb.
Mr. Murphy, in an phone interview, said he has no plans to join Sotheby's. "I'm leaving Christie's, a place that I love and people I admire," he said. "I have no plans of any kind to announce."