Steven P. Murphy will leave his position as CEO of Christie’s at the end of the year, the auction house announced.
Current chairman Patricia Barbizet will take over as CEO and will continue in both roles. She also serves as vice chair of French luxury brand group Kering.
Murphy has headed the privately held company since 2010.
Murphy says he was brought on “to help modernize the company and enable it to grow in the new world in which we operate, while maintaining its extraordinary spirit and culture. We have now successfully concluded an ambitious three-year plan, and the company is in the strongest leadership position in its history.”
His move comes shortly after Sotheby’s chairman and CEO William Ruprecht announced his resignation, following a battle with activist investors.