On December 4, 2006, the trust hired of art historian James N. Wood, the former Director of the Art Institute of Chicago to be the trust's new president and CEO. Wood replaced Barry Munitz, who was forced to step down earlier in the year. In 2009, the trust's assets dropped in value, and Wood cut nearly 100 employees at the trust's various operations, most at the Getty Museum. Fees for parking at the museum and the Getty Villa were raised by 50% to $15. Wood died suddenly of natural causes on June 12, 2010. In May 2011, the trust hired James Cuno, director of the Art Institute of Chicago as president and chief executive of the Getty Trust, to take office in August.