VANCOUVER, June 16, 2014 /CNW/ - (June 16, 2014) - Ritchie Bros.
Auctioneers (NYSE & TSX: RBA, 'the Company') is pleased to announce
that its Board of Directors has appointed Ravi Saligram as the
Company's new Chief Executive Officer. Mr. Saligram will succeed Peter
Blake, who will be leaving the Company in July. It is expected that
Mr. Saligram will assume his new role as CEO on July 7 and will be
appointed as a member of the board of directors of the Company at that
"We are very pleased to welcome Ravi Saligram to Ritchie Bros. as CEO.
Ravi is a proven leader and an experienced chief executive within the
business services sector, and has an impressive track record of driving
revenue and profit growth at customer-service focused organizations,"
said Robert Murdoch, Chairman of the Board, on behalf of all board
members. "Ravi's recognized talent for cultivating strong corporate
cultures and his extensive global business experience will benefit
Ritchie Bros. significantly as we enter our next phase of growth."
Mr. Saligram's 35-year professional career includes three years as
President and Chief Executive Officer of OfficeMax and more than 20
years of general management experience at ARAMARK, Intercontinental
Hotels Group, and SC Johnson. Mr. Saligram has lived in five countries
and worked in many more across five continents. He is noted for his
ability to lead consumer, B-to-B and digital businesses and has
considerable experience running global, multi-unit service
organizations and overseeing large sales teams.
"Ritchie Bros.' leading market position, deep operational expertise in
unreserved auctions and highly engaged team committed to customer
service attracted me to this role," said Mr. Saligram. "I am excited
by the opportunity to further grow the core business in both North
America and internationally, and scale new e-based business models to
provide comprehensive solutions to customers. I look forward to
partnering with our team to make Ritchie Bros. the premier global
equipment solutions company."
In November 2010, Mr. Saligram joined OfficeMax as Chief Executive
Officer, where he drove innovation and evolved the company from an
office products distributor to an omnichannel provider of workplace
products, services and solutions. He successfully championed the
merger with Office Depot, which was consummated in November 2013.
Prior to his role at OfficeMax, Mr. Saligram served as President of
ARAMARK International, and Executive Vice President and Chief
Globalization Officer of ARAMARK Corporation, a world leading
professional services company focused on food services and facilities
management. Under his leadership, revenue and operating profits
doubled at ARAMARK International in seven years.
Mr. Saligram has held senior leadership positions with InterContinental
Hotels Group, including: President of Brands and Franchise for North
America; Chief Marketing Officer; President, International; and,
President, Asia Pacific. He also held brand and general management
roles within S.C. Johnson and Son, Inc., and began his career in
advertising with Leo Burnett Company in Chicago, where he developed his
relentless desire to meet and exceed customer needs. Mr. Saligram
earned an MBA from the University of Michigan and an electrical
engineering degree from Bangalore University.
Mr. Saligram will be based out of the Company's head office in
Investor Conference Call and Webcast:
Ritchie Bros. will host a short investor conference call at 8:00 a.m.
Pacific / 11:00 a.m. Eastern / 4:00 p.m. BST, tomorrow, June 17, 2014.
Analysts and Institutional investors may access the conference call
using the following dial-in numbers:
Toll Free North America: 1-888-390-0605
Toll Free UK: 0800 028 6441
All other interested parties, including media, can listen to the call
through the live and archived webcast, accessible at the following
A replay of the call will be made available approximately two hours
following the live call and will be available until July 31, 2014. It
can be accessed through the webcast link, or by dialing 416-764-8677 or
1-888-390-0541 using the passcode 969342.
About Ritchie Bros. Auctioneers:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's
largest seller of used equipment for the construction, transportation,
agriculture, material handling, energy, mining, forestry, marine and
other industries. Ritchie Bros. solutions make it easy for the world's
builders to buy and sell equipment with confidence, including live
unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of
value-added services, including equipment financing for customers
through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44
auction sites worldwide. Learn more at RitchieBros.com.
ATTENTION MEDIA: Photos and other media resources, including a
backgrounder, are available for use at http://www.rbauction.com
SOURCE: Ritchie Bros. Auctioneers
For further information:
Investor Relations inquiries:
Jamie Kokoska, Investor Relations Manager
Ritchie Bros. Auctioneers
Kim Schulz, Manager, Corporate Communications and Events
Ritchie Bros. Auctioneers