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The Canadian Press - ONLINE EDITION

Ritchie Bros. Auctioneers appoints Ravi Saligram as chief executive officer

VANCOUVER - Ritchie Bros. Auctioneers (TSX:RBA) has announced the appointment of veteran executive Ravi Saligram as the company's new chief executive officer to 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 time," the heavy equipment auctioneer said in announcing the change at the top on Monday.

"We are very pleased to welcome Ravi Saligram to Ritchie Bros. as CEO," said company chairman Robert Murdoch. "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."

Saligram's 35-year professional career includes three years as president and CEO of office supply retailer OfficeMax and more than 20 years of general management experience including senior leadership positions at ARAMARK, Intercontinental Hotels Group and SC Johnson.

Ritchie Bros. is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries.

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