Once Burned, Twice Shy or Fool Me Once?

The Getty Trust has just announced the appointment of James N. Wood, formerly head of the Art Institute of Chicago, as its new CEO.  The Getty is trying to recover from financial scandals often described in shorthand as "lavish pay and looted artworks."

Is it the good news or the bad news that Wood was at the helm in Chicago when the Art Institute unwisely invested a portion of its endowment in a hedge fund and then had to sue to try to undo the damage?  Having already headed a scandal-tainted institution, is Wood better-qualified to head another one?  Is he savvier about the financial pitfalls hiding under the manicured turf of the museum world, or is he just someone who’s demonstrated that he doesn’t know how to conduct oversight of the Board that oversees him?  Which would the Getty’s Board prefer?


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