October 28, 2019 / 1:33 PM / 15 days ago

Sotheby's taps Altice USA executive Charles Stewart as CEO

(Reuters) - Sotheby’s on Monday named Altice USA Inc (ATUS.N) executive Charles Stewart for the top job, months after the cable television firm’s majority owner Patrick Drahi announced plans to take the auction house private in a surprise multi-billion-dollar deal.

Stewart joins Sotheby’s as the chief executive officer effective immediately, succeeding Tad Smith, who has been with the company since 2015.

Stewart was the chief financial officer at Altice USA most recently and his other stints include serving as an investment banker at Morgan Stanley.

In June, Franco-Israeli cable magnate Drahi made a surprise move into the art world by snapping up Sotheby’s in a $3.7 billion deal, partly funded by the sale of some of his shares in Altice USA.

Altice USA, in a separate statement, named Michael Grau as its chief financial officer.

Reporting by Soundarya J in Bengaluru; Editing by Subhranshu Sahu

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