"A survey by The Economist of nearly 150 art museums, all members of the Association of Art Museum Directors (AAMD), shows that more than a third of directors are aged 60 or over and approaching retirement (the median age of chief executives at S&P500 companies is 54; only a quarter are 60, according to Spencer Stuart, a recruitment firm). Museum-watchers had predicted the beginnings of a vacuum at the top of American art museums when the financial crisis hit in 2008. Although a number of appointments have since been made, turnover has been slight, says Sarah James of Phillips Oppenheim, a headhunting firm which over the past year has been involved in recruiting new directors for the Morgan Library and Museum in New York, the Museum of Fine Arts (MFA) Boston, the Detroit Institute of Arts (pictured) and the Wolfsonian Museum in Miami Beach. Many museum directors stayed in their jobs for fear of disrupting their institutions at a time of uncertainty. Now that the global economy has levelled out, Ms James says, 'the turnover that was supposed to happen over five years might happen in the next 18 months.'"
The changing of the guards will be a very interesting development worth following. Read more about it, here.