A confidential, independent report leaked this week has revealed that the ICA suffered poor leadership under the rein of (Director) Ekow Eshun and former BBC One Controller, (Chairman) Alan Yentob. Both have now departed and the Gallery is attempting damage limitation, reeling from a £700,000 plunge into the red, in 2009.The likely reason for the crisis stems from financial decisions taken by Eshun and Guy Perricone, the former managing director at the ICA, who resigned in October 2009. These events placed the organisation at risk. The crisis led to an emergency grant from Arts Council England amounting to 1.2 million pounds. This has prevented closure but has forced a credible change in administration. The report compiled by independent curator, David Thorp points the finger at a severe lack of financial leadership. Eshun who faced a no confidence vote stepped down in October, according to a spokeswoman at the ICA, Eshun’s decision to leave the institution three months early had been “quite amicably” agreed with the board. “Essentially it was just an agreement they decided to bring forward. Six months is a long notice period.” The gallery is recovering well under the new Administration and it is expected that the new Chair, Alison Myners will announce the appointment of a replacement Director sometime in the New Year.