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NEW BOARD FOR DROUOT
01 July 2000


The board of the Drouot SA group has appointed on June 14th 2000 Parisian auctioneer Pierre-Marie Rogeon as its new chairman. Mr Rogeon will replace Hervé Chayette while Alain Castor has been named head of the Vigilance Committee in place of Mr Nicolay.

Mr Chayette resigned on learning that Jean-Louis Picard, whose PIASA group has established close links with François Pinault, owner of Christie's, was still a member of the board. Pierre-Marie Rogeon has been chosen for his managing capacities and to defend the options defended by the board against certain members who wanted to transform Drouot SA into a commercial entity led by a “true” boss who would not have been necessarily an auctioneer.

The main task of the board concerns the rearrangement of the Drouot building, which will last for a period of 10 months.

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