Ritchie Bros CEO to step down next year

By Helen Wright09 October 2013

Peter Blake, CEO of Ritchie Bros Auctioneers.

Peter Blake, CEO of Ritchie Bros Auctioneers.

Peter Blake, CEO of construction equipment auctioneer Ritchie Bros, is to step down in May next year after a decade in the role.

The company said Mr Blake would remain as CEO in the interim as it searches for a replacement. Mr Blake joined Ritchie Bros in 1991 and has served as CEO of the company since 2004.

Under his leadership the company has grown, and now has operations in more than 25 countries, including 44 auction sites.

“I have decided that the time is right for a new CEO to lead Ritchie Bros into the exciting next phase that is ahead,” Mr Blake said.

“I see a great future for this company, and I look forward to driving our growth and customer experience initiatives during the months ahead, and working with the board to find the right new leader with fresh energy and perspective to take the company forward."

Robert Murdoch, chairman of the Ritchie Bros board of directors, added, “Peter Blake has been an outstanding leader of Ritchie Bros. During his tenure shareholder value has increased by over US$ 1.2 billion. With his vision passion and commitment he has positioned the company to continue to grow and thrive into the future.

“In 2014 he will have led the company's evolution for 10 years, expanding its global footprint and building online bidding into a more than US$ 1 billion business while continuing to foster a culture of trust with our customers and employees, a core value of Ritchie Bros.

"The board thanks Pete for his service and tireless dedication to our company and we look forward to working with him in the coming months to continue to execute our strategy and identify a new leader to take Ritchie Bros. into its next phase of growth."

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Long Reads
Post-pandemic demand lengthens delivery times for construction equipment
Government stimulus measures following the global pandemic have led to a surge in demand for construction equipment
Technology paves the way for driving 3D development
What is 3D modelling and what is it used for? Discover more at SC&RA Workshop
PREVIEW: SC&RA Crane & Rigging Workshop
The 2021 Crane & Rigging Workshop will be held September 14-16 at the Hyatt Regency Chicago, USA
CONNECT WITH THE TEAM
Alex Dahm Editor, International Cranes and Specialized Transport Tel: +44(0) 1892 786 206 E-mail: alex.dahm@khl.com
Mike Posener Sales Manager Tel: +353 860 431 219 E-mail: mike.posener@khl.com
CONNECT WITH SOCIAL MEDIA