Reinvention – Ritchie Bros.



Ann Fandozzi, CEO, Ritchie Bros.

Ritchie Bros. has been on the innovation scene since it was established. From its original founder to today’s CEO, Ann Fandozzi, the company continually strives to stay ahead of the curve.

Established in 1958, Ritchie Bros. is a global asset management and disposition company, offering customers end-to-end solutions for buying, selling and managing heavy equipment, trucks and other assets. Ritchie Bros. traces its innovative spark back to 1963, when company founder, Dave Ritchie, created the first “ramp-and-stage” method for carrying out an auction to bring the used equipment to the auctioneers and bidders instead of having them tour an equipment yard.

Innovation struck again in the late 1990s, when the internet was about to explode with potential. Again, Dave Ritchie ensured the company had one of the first websites in the equipment industry and would go on to start some of the first online equipment auctions in the early 2000s. Building a robust online presence paid off as the COVID-19 pandemic took hold and online auction demand skyrocketed.

In 2022, 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.”

Today, Ritchie Bros. continues to expand its online presence with the launch of its North American equipment listings website, Ritchie List. In 2022 Ritchie List grew its customer base by more than 300% and surpassed 75,000 active listings for equipment, vehicles and other assets. Additionally, Ritchie Bros. Financial Services surpassed $1 billion in annual funded volume in 2022.

“Innovation has been a key ingredient in Ritchie Bros.’ success for more than 60 years.”

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