Canada's Magazine for Financing & Leasing Executives

December 21, 2016

Ritchie Bros. announces management departure

VANCOUVER -- Ritchie Bros. Auctioneers Incorporated, today announces that Terry Dolan, President, U.S. and Latin America, will be leaving the company effective December 31, 2016.

"I would like to thank Terry for his contributions to the company and wish him much success in his future endeavors," said Ravi Saligram, Chief Executive Officer.

Mr. Saligram will serve as Interim President for the United States and Latin America until further notice. The company intends to review its senior executive leadership structure in connection with its recently announced acquisition of IronPlanet, which, as previously communicated, is expected to close by the end of the second quarter of 2017. The company also announces the appointment of Rob Whitsit, a former Senior Vice President of Ritchie Bros., as a Senior Advisor to Mr. Saligram during the interim period. Mr. Whitsit brings a wealth of experience in the business and will provide additional support to the U.S. sales team as the new executive structure is finalized.



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