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Sotheby's braces for new shareholder fight

Auction house's battle with investor Daniel Loeb and search for new CEO prove costly as 2014 profit falls 9%
Wednesday, March 4, 2015 - 05:50

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Sotheby's may find itself in a new shareholder fight even as its battle with billionaire investor Daniel Loeb and search for a new chief executive officer proved costly in 2014.

New York

SOTHEBY'S may find itself in a new shareholder fight even as its battle with billionaire investor Daniel Loeb and search for a new chief executive officer proved costly in 2014.

The New York-based auction house said on Monday that profit fell 9 per cent in 2014 as expenses

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