Ex-Sotheby’s Contemporary Art Co-Head Alex Rotter Goes to Christie’s

Former Sotheby’s global co-head of contemporary art Alex Rotter is headed to rival auctioneer Christie’s as chairman of post-war and contemporary art for the Americas, reports the New York Times. He’ll start in March 2017.

In his new position, Rotter reports to chairman and international head of post-war and contemporary art Brett Gorvy. Deputy chairman Loic Gouzer has been the front man for a series of news-making sales that mix material from across the Impressionist/modern and post-war/contemporary departments.

Rotter left Sotheby’s in February after serving there for 16 years; that news broke at the same moment that David Norman, vice chairman of Sotheby’s Americas and co-chairman of Impressionist and modern art worldwide, was departing after some 31 years. They are part of a historic wave of departures from the house, following its acquisition of the advisory firm Art Agency, Partners for a whopping $50 million.

The house had a strong $242-million sale of postwar and contemporary art in May, with nearly every work finding a buyer. That followed a less robust Impressionist and modern art auction earlier that week that tallied just $144 million, with fully a third of the offerings failing to sell.

Sotheby’s stock is down about 30 percent over the last year, from $46.34 a share to $31.70 as of this morning.