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Third Point Raises Stake In Sotheby's; Calls For CEO To Resign-Reuters

Wednesday, 2 Oct 2013 11:01am EDT 

Reuters reported that Activist investor Daniel Loeb's Third Point LLC raised its stake in Sotheby's and called for the resignation of the auctioneer's chief executive, citing concerns about the Company's leadership and strategic direction. The hedge fund, now Sotheby's shareholder with a 9.3% stake, said it would look for a new CEO after joining the Company's board. 

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0.15 +0.35%
2:39pm EDT