The supervisory board of Artnet AG has appointed Jacob Pabst as chief executive officer and chair of the management board of the company, effective from July 1, 2012. Jacob Pabst will succeed Hans Neuendorf as chair of the management board and CEO of the company. The management board will be announced later 2012. Neuendorf will retire after almost 20 years, but will remain associated with the company as a consultant. Since January 2012, he has been president of artnet Worldwide Corporation in New York.