Ritchie Bros. CEO honored for transition to digital marketplace

Ritchie Bros. CEO Ann Fandozzi has been recognized by the Canadian newspaper, The Globe & Mail, as its CEO Innovator of the Year.

In the paper’s article discussing Fandozzi’s recognition, the Globe & Mail explains that Ann has “pushed to transform the 60-year-old company from its auction-house roots into a comprehensive marketplace for the used-equipment sector, offering an array of analytics tools; services such as parts, appraisals and financing; and new platforms for selling used machinery that go well beyond auctions.” 

She joined Ritchie Bros., Burnaby, British Columbia, in January 2020. Three months later, the world shut down due to the COVID-19 pandemic, and Fandozzi switched Ritchie Bros. to 100-percent online auctions. The change was immediately successful. The number of registered bidders grew exponentially, marking the first of a series of strategic changes the company has undergone during the past two years under Fandozzi’s leadership to innovate on Ritchie Bros.’ digital capabilities and expand its global marketplace.

Under Fandozzi’s leadership, Ritchie Bros. has embarked on a structural and cultural revamp, established a test-and-learn mindset and placed analytics at the heart of decision making. Over the last two years, the company also has made strategic acquisitions to help in this transition, bringing data intelligence experts Rouse Services and parts procurement business SmartEquip into the Ritchie Bros. family of brands. In November 2022, Ritchie Bros. also announced a landmark agreement to acquire IAA, a leading global digital marketplace for vehicles, which would advance Ritchie Bros.’ strategy and unlock opportunities to accelerate growth. 

“The ‘test and learn approach’ that Ann introduced is now part of our daily routine—we are always looking for new ways to adapt to the changing market conditions and do what’s best for our customers,” Ritchie Bros. Senior Vice President Jake Lawson says. “At Ritchie Bros. today, we let data and technology guide the way. Ann has brought this focus to the organization, and she has set us on a path to accelerate growth and lead the future of our industry.”

Ritchie Bros. auctions excavators, skid steers, trucks, wheel loaders, agricultural equipment and more.