RB Global Experiences Simultaneous Departures of CEO and CFO – C-Suite Transitions

Editor’s Note: On August 21, 2023, Ann Fandozzi, the former CEO of RB Global, expressed her disagreement in a letter to RB shareholders that she did not submit her resignation from the company.

Most executive departures are fairly routine, at least to the outside world. Even the sudden departures are related to the executive “wanting to spend more time with family”, leaving for another company, etc.

Every once in a while we come across a rather strange set of circumstances surrounding a departure. There was one departure where a security software company claimed that an executive took a sabbatical after working for 15 years at the company. Apparently the executive enjoyed traveling and cycling so much that she decided to not return to work. Glancing at her LinkedIn profile, it appears that she is still on sabbatical.

This week’s departure at the car auctioneer Ritchie Bros wasn’t quite as amusing but is up there in terms of drama. Not only did the CEO leave after disagreements over her pay package, the CFO was also terminated at the same time. In fact the resignation part is also in question. More on that later.

Welcome to edition 53 of C-Suite Transitions, a weekly series on InsideArbitrage that tracks appointments and departures at publicly traded companies during the prior week. We highlight five appointments and departures each week by picking the largest companies from the full list of management changes.

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