Last week, as much of the art world was focused on the marquee sales in New York, Christie’s announced a major change to its leadership in London. The auction house appointed François-Henri Pinault as board chairman and non-executive director.

Pinault is the son of French billionaire François Pinault and the president of Groupe Artémis, the long-time parent company of Christie’s. Artémis is also the parent company of the Pinault Collection, the 10,000-work collection of the Pinault family, as well as several private museums: the Bourse de Commerce in Paris and the Palazzo Grassi and Punta della Dogana in Venice.