Ritchie Bros. Plans for Succession

Vancouver, Canada-based global truck and heavy equipment auctioneering firm Ritchie Bros., has formally announced that Peter Blake, currently senior vp & CFO, will become CEO, effective November 1.

He will replace David E. Ritchie, one of the company's founders, its largest shareholder and currently chairman & CEO, who stated that he plans to resign. Ritchie will retain his seat on the firm’s board of directors.