Christie’s Abrupt CEO Exit to Prompt Review of Auction House

Christie’s International Plc’s Patricia Barbizet, who was named chief executive officer last week after the surprise exit of Steven Murphy, will review options that may include a restructuring of the world’s largest auction house, said people familiar with the company’s plans.

French billionaire Francois Pinault brought in longtime adviser Barbizet, 59, to evaluate the future strategy of the company he took private for $1.2 billion in 1998, said one of the people, who asked not to be named as the matter is private. Pinault doesn’t plan to sell Christie’s, a spokeswoman for his holding company said.