On Thursday, the New York Philharmonic named Oscar S. Schafer as its new chairman of the board. Mr. Schafer, a hedge fund mogul, will succeed its current chairman, Gary W. Parr, early next year.
Mr. Schafer isn't any sort of newcomer. He is the chairman of Rivulet Capital, a private investment firm who has also served on the board since 2007. With his wife Didi, he has given a generous amount (upwards of $6 million) to the Philharmonic's parks concerts since 2007.
In a statement, Mr. Schafer said: "The New York Philharmonic represents the best New York has to offer, both to our community and around the world."
His appointment comes at a time when the orchestra is expanding its touring and educational projects, per WQXR, in Shanghai, China, Ann Arbor, Michigan, Santa Barbara, California, and Vail, Colorado.
However, the company is also implementing new renovations on Avery Fisher Hall that will potentially be swept up in a long-term displacement. As the orchestra is trying to grapple with new technologies, a consistent work space is needed for efficiency.
But for now, Parr will continue to serve on the board after the changeover has occurred.
Until then, here's the Philharmonic below.
