June 25 (Bloomberg) -- Hans Neuendorf, the 74-year-old founder of the art-market-data provider Artnet AG, will be succeeded as chief executive officer by his eldest son Jacob Pabst, the company said in a statement sent by e-mail today.
Pabst, who is 39, has worked for Artnet since 2000, the company said. Since January, he has headed the New York office, overseeing 120 employees. He also introduced the company’s online auctions and analytics reports allowing users to rank the performance of art as an asset, according to the statement. Pabst takes over effective July 1.
“He knows the company, the market and the customers,” John Hushon, head of Artnet’s supervisory board, said in the statement. “He will bring new momentum and help Artnet make progress.”
Neuendorf, who also co-founded the Art Cologne fair in 1967, will stay on as a consultant. Artnet operates a website comprising a database of prices for art sold at auction, as well as the online auctions and analytics reports.
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