At a time when cultural institutions around the country are wrestling with the challenges of the pandemic, including limited attendance, as well as issues of racial equity, the Metropolitan Museum of Art on Tuesday for the first time elected two trustees to jointly lead the board, one of whom will be its first woman chair.
Hamilton (Tony) E. James, the executive vice chairman of the investment firm Blackstone, and Candace K. Beinecke, the senior partner at the law firm Hughes Hubbard & Reed, will succeed Daniel Brodsky starting Jan. 12. Mr. Brodsky’s third three-year term was set to expire in September but was extended because of the pandemic.
“These are exceptionally challenging times,” Mr. Brodsky said, “and the opportunity to have two leaders with strong yet different experiences is a win-win for the museum.”
The pair will be taking over stewardship of the museum at a time when the Met has projected a $150 million revenue loss through June resulting from the virus outbreak. To address this deficit, the museum has reduced programming, made executive pay cuts, reduced staff cuts and raised about $25 million from trustees for an emergency fund.
Ms. Beinecke, a trustee since 2010, has served as chairman of the museum’s legal committee since 2011, and was co-chair of the search committee that recommended the Met’s current director, Max Hollein. Mr. James, who also joined the board in 2010, has been chair of the museum’s finance committee since 2014.