Ritchie Bros. promotes Jim Kessler to role of President

Rhea-AI Summary

Ritchie Bros. announces the promotion of Jim Kessler to President, alongside his role as Chief Operating Officer, effective immediately. CEO Ann Fandozzi believes Kessler's extensive experience in leadership roles will enhance the company's integrated view of operations, services, and revenue, aiming for improved growth strategies. Kessler, who has over 20 years in the industry, will focus on integrating strategic initiatives and enhancing customer journeys. This change is part of Ritchie Bros.' efforts to strengthen its marketplace for commercial assets and drive profitability.

Positive

• Jim Kessler's promotion is expected to improve integration of operations and revenue, potentially enhancing company performance.
• The leadership change aims to accelerate Ritchie Bros.' growth strategy and customer solutions.

Negative

• None.

"Jim's holistic approach to sales, marketing, and operations makes him the ideal leader to drive topline growth and profitability," said CEO Ann Fandozzi

VANCOUVER, BC, Sept. 8, 2021 /PRNewswire/ - Ritchie Bros., a global marketplace for insights, services, and transaction solutions, announced today that its Chief Operating Officer, Jim Kessler, will take on the additional role of President, effective immediately.

"The President role will align our global revenue, services, operations, and critical support functions under Jim's leadership," said Ritchie Bros. CEO Ann Fandozzi. "As we accelerate our growth strategy as a company, we need a more integrated view of our strategic initiatives, resources, and talent. Jim's holistic approach to sales, marketing, and operations, makes him the ideal leader to drive topline growth and profitability from our transaction solutions."

Jim Kessler has more than 20 years of experience in senior leadership positions, including those of President, Chief Operating Officer, and Chief Financial Officer. He holds an undergraduate degree and MBA from Saint Joseph's University in Pennsylvania.

Fandozzi continued, "We are creating a more integrated view of our programs and resources at Ritchie Bros. to provide the best customer solutions and scale the business. I'm extremely excited about the potential in front of us and am passionate about improving the buyer and seller customer journey as I focus on accelerating our transition to a modern architecture, strategic partnerships, M&A, and other foundational elements to create a more robust marketplace for insights, services, and transaction solutions for commercial assets."

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

FAQ

Who has been promoted to President at Ritchie Bros.?

Jim Kessler has been promoted to President while continuing as Chief Operating Officer.

When did Jim Kessler's promotion to President at Ritchie Bros. take effect?

Jim Kessler's promotion took effect on September 8, 2021.

What is the role of Jim Kessler at Ritchie Bros.?

Jim Kessler serves as both the President and Chief Operating Officer, focusing on driving growth and profitability.

What are Ritchie Bros.' strategic goals following Jim Kessler's promotion?

Ritchie Bros. aims to create a more integrated view of its services, accelerate growth strategies, and improve customer journeys.

What experience does Jim Kessler bring to Ritchie Bros.?

Jim Kessler brings over 20 years of senior leadership experience, previously serving as President, COO, and CFO.