By Jill Serjeant
LOS ANGELES (Reuters) - The president of the J. Paul Getty Trust -- one of the world’s richest art institutes -- has resigned amid a probe over allegations that the trust’s assets had been misused for personal benefit, excessive travel and lavish pay.
The Board of Trustees said in a statement on Thursday that Barry Munitz, president and CEO for the past eight years, had decided to resign effective immediately.
Munitz will receive no severance package and will pay the Getty Trust $250,000 (142,000 pounds), without admitting any wrongdoing, to resolve any outstanding disputes, the statement said.
The Getty Trust, the nonprofit foundation behind the Los Angeles Getty Centre and Getty Villa founded by oil billionaire J. Paul Getty, was placed on probation in December by the Washington-based Council on Foundations.
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The council is the nation’s main umbrella group for nonprofit foundations. It said it was examining charges against the Getty related to the sale of Getty property, excessive travel and entertainment expenses and inappropriate compensation for Munitz.
The probation was the latest in a string of woes for the Getty over allegations that some of its antiquities had been looted from Italy. Antiquities curator Marion True quit her job at the Getty last year and is on trial in Italy on charges of conspiring with dealers trafficking in looted items.
The Getty has since agreed to return three of about 40 disputed archeological treasures claimed by Italy.
The Getty’s governing board appointed its own committee late last year to look into Munitz’s use of trust funds, as well as questions raised about the way it has acquired thousands of Roman and Greek statues, vases and other artifacts.
The Los Angeles Times reported last year that Munitz had spent the trust’s money on pay, travel and perks, and appeared to have influenced the sale of Getty property to a close friend.
Munitz said in his resignation letter he considered his work complete at the Getty following the reopening last month of the Getty Villa in Malibu after an eight-year face-lift, the appointment of a new museum director and talks underway with Italy to resolve issues surrounding the antiquities collection.
"I am taking this action, after lengthy consideration, so both the institution and I can move forward," Munitz said.
