3 , ▁the ▁museum ▁announced ▁that ▁it ▁had ▁accepted ▁Broad ' s ▁offer ▁and ▁would ▁be ▁making ▁a ▁number ▁of ▁significant ▁changes ▁to ▁its ▁leadership . ▁Director ▁Jer emy ▁Str ick ▁res igned , ▁and ▁a ▁new ▁position ▁of ▁chief ▁executive ▁officer ▁was ▁created ▁for ▁Charles ▁E . ▁Young , ▁former ▁ch an cell or ▁of ▁the ▁University ▁of ▁California , ▁Los ▁Angeles . ▁Broad ▁required ▁comp liance ▁with ▁strict ▁financial ▁terms , ▁but ▁did ▁not ▁demand ▁Str ick ' s ▁res ignation ▁or ▁Young ' s ▁appointment ▁as ▁a ▁condition . ▁H ired ▁for ▁a ▁limited ▁term , ▁Young ▁o vers aw ▁lay offs ▁and ▁cut back s ▁in ▁the ▁exhibition ▁schedule ▁that ▁reduced ▁MO CA ' s ▁budget ▁from ▁more ▁than ▁$ 2 4 ▁million ▁to ▁less ▁than ▁the ▁$ 1 6 ▁million ▁in ▁ 2 0 1 1 . ▁In ▁a ▁departure ▁from ▁past ▁practice , ▁when ▁MO CA ▁would ▁schedule ▁shows ▁before ▁fund ing ▁had ▁been ▁secured , ▁it ▁has ▁adopted ▁a ▁policy ▁of ▁comm itting ▁to ▁exhib itions ▁only ▁after ▁at ▁least ▁ 8 0 % ▁of ▁its ▁project ed ▁budget ▁has ▁been ▁l ined ▁up . ▁ ▁The ▁departure ▁of ▁respect ed ▁cur ator ▁Paul ▁Sch imm el ▁on ▁June ▁ 2 8 , ▁ 2 0 1 2 ▁led ▁to ▁an ▁ex od us ▁of ▁trust ees , ▁committee ▁members ▁and ▁a ▁bomb ard ment ▁of ▁criticism ▁in ▁the ▁community . ▁And ▁because ▁Broad ▁himself ▁has ▁default ed ▁on ▁his ▁promised ▁pay ments ▁to ▁MO CA