It was not instantly clear who would succeed Mr. Black at MoMA. Among these anticipated to be in competition are the board’s several vice chairmen as nicely as Marie-Josée Kravis, its president emerita.
There has been some concern amongst MoMA trustees that Mr. Black’s stepping down as chairman would possibly jeopardize his potential future presents of artwork or money to the museum, given his wealth and his museum-quality personal artwork assortment.
In 2018, the identical year he became chairman of the museum’s board, Mr. Black and his spouse, Debra, gave $40 million to the museum, prompting MoMA to title its movie middle after them.
In 2012, he lent MoMA Edvard Munch’s 1895 model of “The Scream” — which he bought for almost $120 million — and in 2016, Mr. Black gained the precise to hold a big Picasso bust for which he had paid about $106 million and that featured prominently in MoMA’s acclaimed Picasso sculpture present.
People shut to Mr. Black, together with a number of board members he’s pleasant with, had been advising him to scale back his visibility at MoMA, mentioned an individual briefed on the matter.
Had Mr. Black chosen to search re-election, MoMA may have confronted the messy prospect of a knock-down, drag-out management struggle. And it may have sparked disruptive exercise outdoors the museum within the months forward, simply as MoMA hopes to return to extra regular operations amid bettering pandemic situations.