Tony Karman, the longtime director of Expo Chicago, will step down from his role at the end of June, remaining as president in an advisory capacity while the fair searches for a new director. Karman founded Expo Chicago in 2011, succeeding Art Chicago, and has led the fair through 14 editions, including its most recent one last month with 170 exhibitors and over 35,000 visitors. The transition follows Frieze's acquisition of Expo Chicago and the Armory Show in July 2023, and comes amid broader ownership changes at Frieze itself, which was recently sold to a company founded by Ari Emanuel and is now fully owned by private equity firm Silver Lake.
This leadership change matters because it marks the first major shift at Expo Chicago since its acquisition by Frieze, and follows the departure of Armory Show director Nicole Berry in March 2024. Karman's move to an advisory role ensures continuity, but the search for a new director signals a new chapter for one of the US's most prominent art fairs. The timing also reflects the volatile landscape of art fair ownership, with Frieze having changed hands twice in recent years, and underscores the ongoing consolidation and financial restructuring in the global art fair market.