MCH Group CEO Florian Faber exits after three-year tenure following return to profitability
Florian Faber has stepped down as CEO of MCH Group, the company that runs Art Basel, after three years in that position and a total of sixteen years with the organization. His departure was agreed upon by both him and the board. Andrea Zappia, who chairs the board, will serve as the interim CEO. This change comes after MCH reported a net profit of $3.4 million for 2024, marking its first profitable year since 2016. This turnaround follows the shutdown of the Baselworld luxury watch and jewelry show in 2020 and the last Masterpiece London fair in 2022 due to financial issues. Vice chairman Raphael Wyniger commended Faber for successfully guiding Art Basel, especially with the launch of Paris+, which has enhanced MCH's global cultural presence.
Key facts
- Florian Faber has left his position as CEO of MCH Group
- Faber served as CEO for three years and was with the company for sixteen years total
- His departure was by mutual agreement with the board
- MCH Group chairman Andrea Zappia will serve as interim CEO
- MCH Group returned to profitability in 2024 with a net profit of $3.4 million
- This was the company's first profit since 2016
- Baselworld was closed in 2020 and Masterpiece London last staged in 2022 due to cost concerns
- Vice chairman Raphael Wyniger praised Faber's development of Art Basel including the launch of Paris+
Entities
Institutions
- MCH Group
- Art Basel
- Baselworld
- Masterpiece London
Locations
- Paris
- London
- United Kingdom