John Block, chief executive for Phillips, de Pury & Luxembourg in North America, resigned this week. Block, a jewelry expert who worked at Sotheby’s for 30 years before joining Phillips in January 2001, will leave on May 31.
“I was headhunted and hired by Bernard Arnault,” Block told The New York Times, referring to the chairman of LVMH Moët Hennessy Louis Vuitton. The French luxury goods company had a controlling interest in the auction house until it sold all but 27.5% of the company to Simon de Pury, its chairman, and Daniella Luxembourg, its president, three months ago.
“I decided to leave after the change of control,” he reportedly added. “I am hoping to start a new business, but I haven’t finalized my plans.”
Experts in the jewelry field say David Bennett, another former Sotheby’s jewelry expert, is expected to join the company, the Times reported.