CEO of MCH Group Florian Faber, the parent company of Art Basel, has left the firm. Faber was in the role of CEO for three years, while he worked with the company for sixteen years in total. His departure was by mutual agreement with the board. MCH’s chairman, Andrea Zappia, will serve as the company’s interim CEO.
The change in leadership follows the publication of MCH’s 2024 results which revealed the firm had returned to profitability of the first time since 2016, with a net profit of $3.4 million. The turnaround comes after the company was forced to close luxury watch and jewellery show Baselworld in 2020, while annual design fair Masterpiece London was last staged in 2022 due to concerns over cost.
In a statement, vice chairman Raphael Wyniger highlighted the successful development of Art Basel under the direction of Faber, including the launch of Paris+ , transforming MCH Group into ‘a unique convening and cultural platform globally’.
