Sotheby's announced that the appointment of Charles F. Stewart as President and Chief Executive Officer, effective immediately. Mr. Stewart joins Sotheby's from Altice USA, where he has served as Co-President and Chief Financial Officer since 2016. He assumed the role at Altice USA following more than two decades of operations, financial and corporate leadership experience in the U.S., Latin America and Europe, most recently as CEO of Itau BBA International plc.

Prior to that, he spent 19 years at Morgan Stanley as an investment banker in various leadership and client-facing roles, based in New York, Brazil and London. On October 28, 2019, the Company announced that, effective immediately, Thomas S. Smith, Jr. will step down from his position as President and Chief Executive Officer of the Company. He will remain with the Company until October 31, 2019.