Can He Raise the Money for the Tate’s Expansion?

Bloomberg reports on John Browne, the former CEO of British Petroleum becoming the Chairman of the Tate Museum:

Browne’s appointment comes at a time when Tate Modern, the converted power plant on the south bank of the Thames River in London, is striving to raise money for its planned 215-million- pound ($299 million) new wing, designed by architects Herzog & de Meuron and scheduled to open in time for the 2012 London Olympics. Only a third of the funds have been raised, and if not enough money is pledged, the new building will be called off, Serota has said.

BP’s Ex-Chief Executive Named Tate Chairman (Bloomberg)