Today, it's official -- sotheby's board of directors has acknowledged bill aka the schmuck ruprecht is leaving "under mutual agreement".
Nice words but total veneer to cover the truth ruprecht was tossed out.
RK can only say: Good riddens to ruprecht that fat, over-fed, pasty faced moron, who engineered the debacle of RK's "TentBand Collection Sale" in 1990.
His departure comes just one year after Dan Loeb of Third Point Capital called for ruprecht's dismissal after his hedge fund accumulated enough stock to win seats on the board of directors.
Loeb publicly stated ruprecht was a poor chief executive and his continued pressure eventually let the rest of the sotheby's board of directors to put the boot to ruprecht's ample backside pushing him out the door.
But until a new CEO is appointed lame duck ruprecht will supposedly stay on. But what might anyone ask he'll be able to do under the circumstances?
Fact is sotheby's is a miserably run company and blame for their performance rightfully belongs in ruprecht's lap.
According to the NY Times "The board formalized its decision( to rid themselves of ruprecht) in a vote on Thursday. Shareholders appeared to cheer the news, with shares in Sothebys the oldest listed company on the New York Stock Exchange jumping more than 7 percent after hours."
However, hold your tears for ruprecht who several years ago earned more than 5 million, a fact Loeb used to show the greed and self-serving corporate climate circulating throughout sotheby's organization.
RK looks forward to one day being physically close enough to ruprecht to spit in his face and express our complete dislike for this douchebag arsehole.