Ritchie Bros. to Add Stephenson and Shah to Board as Briscoe Plans Retirement

Ritchie Bros. will nominate Carol Stephenson and Mahesh Shah to its board of directors at its upcoming annual and special meeting of shareholders on April 27.  In addition to these new appointments, Bev Briscoe informed Ritchie Bros. that she intends to retire from the board of directors and, accordingly, to not stand for re-election at the company’s upcoming annual and special meeting of shareholders. Briscoe has served on the Ritchie Bros. board of directors since 2004 and served as chair of the board from 2014 to 2020.

“On behalf of the board of directors, we would like to express our sincere thanks and appreciation to Bev for her insight, wisdom and advice over the past 18 years, during which time we have undergone significant transformation and growth,” Erik Olsson, chairman of the board for Ritchie Bros., said. “Bev has been an integral part of our successful journey. We wish her the very best in her retirement.”

Stephenson has extensive public company board experience. She is currently on the boards of General Motors and Maple Leaf Foods and has previously served on the boards of Ballard Power Systems (2012 to 2017), Intact Financial (2004 to 2021), Manitoba Telecom Services (2008 to 2016) and Sears Canada (2001 to 2006). Stephenson served as dean of the Ivey Business School at the University of Western Ontario from 2003 until her retirement in 2013. Prior to joining the Ivey Business School, she was president and CEO of Lucent Technologies Canada from 1999 to 2003 and a member of the advisory board of General Motors of Canada, a GM subsidiary, from 2005 to 2009. Stephenson is an officer of the Order of Canada.

Shah currently serves as executive vice president and chief technology and products officer at CDK Global, a provider of omnichannel retail commerce solutions to partners in the automotive, heavy truck, recreation and heavy equipment industries. In his role, Shah drives product innovation, research and development and the strategic roadmap for existing and future portfolios. While at CDK Global, Shah has led the transformation and modernization of architecture as well as the introduction of a new product suite. He leads a 2,500-person team, primarily in product and engineering. Prior to taking on this role in 2019, Shah served as senior vice president and general manager of applications and global business process services at DXC Technology Company from 2017 to 2019 and held various senior positions at Hewlett Packard, from 2001 to 2017 and IBM from 1996 to 2001.

“We are very pleased to nominate Carol and Mahesh to the board of directors,” Olsson said. “Each of the nominees bring strong and relevant backgrounds and will add valuable experience and perspective to the Ritchie Bros. board of directors as we serve our valued customers by working towards achieving our strategic vision to be the trusted global marketplace for insights, services and transaction solutions for commercial assets. We are grateful that we continue to attract such high-quality directors to our board.”

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