Sotheby's principal auctioneer, Tobias Meyer, will leave his post after some 20 years at the helm.

From the podium, and as head of contemporary art sales, Meyer oversaw such spectacular sales as Edvard Munch's "The Scream" when it sold for $120 million last year. And Andy Warhol’s “Silver Car Crash (Double Disaster)” went for $104.5 million, an artist record price, in a $380 million sale last week.

Meyer is expected to use his vast connections with private collectors to forge a new career as a private dealer.

While his departure was announced as a mutual decision, the timing follows criticism from hedge fund manager Daniel S. Loeb, who owns 9.3 percent of the company, and has stated that Sotheby's has a "crisis in leadership." Sotheby's also continues to lose market share to competitor Christie's, say critics.