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Sotheby's picks Madison Square Garden chief as CEO

Art world outsider will bring wide business experience and strategic skills, which auction house lacks: analysts

Mr Smith said that while he cannot add to the expertise of Sotheby's art experts, he can act as a business catalyst. With him is Jane Rosenthal, co-founder of the Tribecca Film Festival.

New York

SOTHEBY'S reached outside the art world on Monday to appoint Tad Smith, a businessman with a background in the entertainment, sport and media industries who most recently led Madison Square Garden Co, to replace departing chief executive William Ruprecht.

Mr Smith, 49, who