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Met’s Interim CEO Halts $600 Million Expansion in Favour of ‘Unsexy’ Smaller Projects

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Metropolitan Museum of Art Phil Roeder

Interim CEO of the Metropolitan Museum of Art has put the brakes on the institution’s programme of major renovations.

Daniel Weiss‘s decision has been prompted by the need to close a $15 million budget deficit.

Weiss, the Met’s President, stepped in as CEO after the resignation of Tom Campbell.  He intends to slow down the pace of renovations and concentrate on smaller projects.

According to the Wall Street Journal, the museum’s $600 million expansion of the southwest section into a contemporary art gallery has been stopped indefinitely.

Weiss is reported as saying that ‘the ship was going a little too fast and turned a little too quickly’.

Favoured plans now include what he calls a ‘decidedly unsexy’ $140 million project to replace skylights above the European art galleries. Another on the cards is a $20 million renovation of British galleries.

The musical instrument galleries and the African wing are also in line for a makeover.

The Met is not alone in having to respond to budget shortfalls. Other major museums that have found themselves in the same boat include the Louvre in Paris and London’s Tate.

Image credits to Phil Roeder Flickr cc

https://therealdeal.com/2017/03/22/mets-interim-chief-puts-600m-expansion-on-hold/

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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