Mike Steib will depart the online art marketplace to lead a media company.

CEO Mike Steib emailed staff that those terminated will receive—within five minutes—a calendar invite to discuss severance packages.

Artsy's CEO Assesses a Year of Growth During the Pandemic

Carter Cleveland, Artsy's co-founder, will move into a new role as executive chairman.

The 17-location gallery has reported success with online viewing rooms and other digital initiatives recently.

He fills a role vacated by cofounder Sebastian Cwilich, who said in January that he would transition to a senior adviser role.

She previously worked at Vice Media.

He had previously been an engineer lead at Instagram and Spotify.

The start-up's chief technology officer said the company was the victim of a 'data security incident.'

The firm said the cuts were intended to help it focus on its online art marketplace.