INDIANAPOLIS, IN.- The Board of Governors at the Indianapolis Museum of Art announced today that Dr. Charles L. Venable and the Board have signed an employment agreement which provides for Venable to continue to serve for up to 10 more years as The Melvin & Bren Simon Director and CEO. Venable joined the IMA in October 2012 under a five-year contract.

“The new agreement reflects the confidence the Board of Governors has in Charles Venable’s leadership,” said Tom Hiatt, chair of the IMA’s Board of Governors. “We recognize and appreciate the many significant achievements Charles has made over the course of the past three and half years, including the the development of a new ten-year strategic plan for the institution.”

“Changing the trajectory of any institution takes commitment, hard work and time,” Hiatt continued. “The other members of the Board and I are confident that Charles and the leadership team he has recruited have set the IMA on the path to a brilliant—and sustainable—future. We believe continuity of leadership is critically important to achieving the goals the IMA has established for itself in the years ahead, and we look forward to seeing the results of this team’s passion and dedication unfold over the next decade. Finally, we believe continuity of leadership is especially important to strengthening our relationships with our many partners and supporters in the community. We are deeply grateful for the many strong ties Charles, his husband Martin Webb and the members of the leadership team have developed in Indianapolis.”

“I am thrilled and humbled to be asked to lead this great institution for another decade,” said Venable. “Over the past three and a half years we have made much progress. I look forward to continuing the great work we now do and to executing new initiatives consistent with our new strategic plan. I am honored to work with a supportive Board, talented leadership team and an enormously dedicated staff on this journey.”

During his tenure at the IMA, Venable has worked alongside the Board to reduce the endowment draw from 8 percent to 5.8 percent, with a goal of reaching 5.5 percent this fiscal year. Achieving financial stability was one of the primary goals the Board established for Venable, who had also significantly reduced the endowment draw during his five-year tenure as director and CEO of the Speed Art Museum, while also raising a significant amount of funds to expand the Speed.

Through the implementation of a general admission policy, a robust new programming lineup and blockbuster exhibitions such as Dream Cars: Innovative Design, Visionary Ideas, Venable has increased IMA membership 200 percent. During his tenure, the IMA’s membership has tripled from approximately 5,000 to 15,000— a record-high for the institution.

Under Venable’s leadership, the IMA has secured major gifts in both art and capital, including the recent $10 million gift from the Lilly Endowment to establish an endowed Innovation Fund. The Innovation Fund enables the Museum to identify, research and pilot new programs.

“We have been pleased with the IMA’s stewardship under Charles’ leadership of our Foundation’s grant support for The Virginia B. Fairbanks Art & Nature Park: 100 Acres,” said Claire Fiddian-Green, president and chief executive officer of the Richard M. Fairbanks Foundation, Inc. “I am delighted to learn of the IMA Board’s focus on continuity of leadership, and compliment the Board, Charles and all of the members of the IMA family for their goal of building an innovative and sustainable organization that will continue to play an important role in our community for years to come.”

Venable has also strengthened relationships with community stakeholders and elevated the IMA’s presence in the surrounding neighborhood. A new IMA on wheels—the ARTx Mobile— combined with accessible new programming and IMA presence at neighborhood meetings is part of Venable’s initiative to position the Museum as a community centerpiece.

“Charles is a thoughtful, collaborative leader who is establishing strong ties between the IMA and the people of this community,” said Sergio Aguilera, a member of the IMA’s Board of Governors and local philanthropist.

“We are proud to support the IMA, its Board and Charles,” said Brian Payne, CEO and president of Central Indiana Community Foundation. “The IMA is a major factor in the growth of our community. Visitors from all around the world come to our city to experience the galleries and gardens. For people moving to Indianapolis, the IMA is an exciting symbol of the new directions in which our community is heading.”

Venable has created an experienced and energetic leadership team to guide the IMA into the future. Together, the team has traveled to major museums and gardens around the world to explore new models and strategies for improvement. He also invited leaders from other museums and public gardens around the country to engage with IMA trustees, staff and the public on how the IMA could become more relevant and sustainable moving forward.

Under the extended contract, Venable will serve though Jan 1, 2026.