In February 2014, Third Point, which by now was Sotheby's largest stockholder, stated in a filing that it would nominate three people – Loeb, Harry Wilson, and Olivier Reza – to Sotheby's board, saying that current board members "lack the fresh perspective necessary to overhaul the company's challenged operational structure and cure its cultural malaise." Informing Sotheby's formally on 27 February 2014, of its nomination of Loeb, Wilson, and Reza as board candidates, Third Point commended Sotheby's for having taken certain actions that Third Point considered productive, but stated that "there remains much to be done to enhance" the firm's "competitive position, refocus its strategy, and boost stockholder value." It was reported in early March that Marcato would support Third Point's nominees to the board.