Phillips announced a major leadership shakeup on Monday, with global chairwoman Cheyenne Westphal resigning after eight years. Robert Manley was named chairman of modern and contemporary art, and Miety Heiden was appointed chairman of private sales. Additionally, Jean-Paul Engelen, president for the Americas and worldwide co-head of modern and contemporary art, is leaving after over a decade to join Acquavella Galleries as a director. The changes follow a challenging marquee auction season, where the May evening sale matched its pre-sale estimate of $52 million but fell 40% below the previous year's $86 million haul.
The leadership overhaul matters because it signals a strategic pivot at Phillips amid a softening art market. The promotions of Manley and Heiden, both with deep experience at rival houses Christie's and Sotheby's, aim to strengthen the auction house's modern and contemporary art category and private sales division, which has grown 46% annually. The departures of Westphal and Engelen, along with the earlier resignation of deputy CEO Amanda Lo Iacono, reflect ongoing instability at the top. The results of the May sale, which saw five records for women artists but also multiple unsold lots, underscore the pressures facing auction houses in a shifting market.