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Key Takeaways
The article outlines the complex dynamics within Gagosian Gallery, including leadership challenges, structural changes, and the broader art market's evolving landscape. The departure of Andrew Fabricant and the strategic positioning of the gallery reflect the ongoing adaptation to maintain its status in a shifting market.
Larry Gagosian remains at the top as the owner and ultimate decision-maker.
Andrew Fabricant (Former C.O.O.) was responsible for implementing structural changes and managing various departments.
The Senior Directors and Chief Creative Officer are key internal members who drive the gallery's creative and operational strategies.
The C.F.O., H.R. Department, Legal Team, and I.T. Department handles specific administrative and operational functions.
The Board of Directors includes both internal members (e.g., senior directors and creative officers) and external members with diverse backgrounds and expertise.
Prominent collectors, directors, artists, curators, and other influential figures are also part of the board, contributing to the gallery's strategic direction and succession planning.
Gagosian Gallery’s Structure
Leadership Style: Larry Gagosian managed the gallery with relentless pressure, leading to a demanding and centralised decision-making process.
Andrew Fabricant's Role: Fabricant was brought in as C.O.O. to manage the gallery's operations, create infrastructure, and mentor senior directors.
Structural Changes: Under Fabricant, the gallery established an H.R. function, legal team, C.F.O., and I.T. department. An internal board of directors was also formed.
Executive Shakeup
Fabricant's Departure: Fabricant's departure was due to losing support from Larry Gagosian and the senior directors, leading to an inability to manage internal friction.
Market Vision: Fabricant and his wife, Laura Paulson, were seen as old-school and possibly out of sync with the evolving social milieu of the art market.
Board Composition
Internal Board Members: Fabricant, five senior directors, and the chief creative officer formed the core of the internal board.
External Board Members: Notable members included Evan Spiegel, Tom Hill, Glenn Fuhrman, and Delphine Arnault, along with prominent collectors and cultural figures like Bill Bell, Dasha Zhukova Niarchos, Laurent Asscher, Sofia Coppola, Jenny Saville, Francesco Bonami, and Valentino Carlotti.
Future of Gagosian Gallery
Succession Planning: The main job of the board was to ensure succession without a power struggle. Larry Gagosian's continued leadership and the gallery's adaptation to market changes were critical.
Strategic Moves: Gagosian was actively working to maintain and possibly reassert his gallery's position at the top of the art market amid changes in the competitive landscape.