Ritchie Bros.’ Fandozzi Recognized as CEO Innovator of the Year by The Globe & Mail
DEC 2, 2022 - 7:24 am
Canada’s largest newspaper, The Globe & Mail, recognized Ritchie Bros.’ CEO Ann Fandozzi as its CEO Innovator of the Year. The Globe & Mail outlined how Fandozzi 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 (data) tools; services like parts, appraisals and financing; and new platforms for selling used machinery that go well beyond auctions.”
Fandozzi joined Ritchie Bros. in January 2020. Due to the pandemic Fandozzi switched Ritchie Bros. to 100% online auctions. Under Fandozzi’s leadership to innovate on Ritchie Bros.’ digital capabilities and expand its global marketplace the change was immediately successful; marking the first of a series of strategic changes the company has undergone.
Over the last two years, the company has also 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 under Fandozzi. In November, Ritchie Bros. announced a landmark agreement to acquire IAA, a global digital marketplace for vehicles, which would 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,” Jake Lawson, senior vice president of Ritchie Bros., said “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.”
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