Ritchie Bros. Auctioneers announced that effective July 27, Greg Owens, Group President, New Sectors & Ventures, and former CEO of IronPlanet, Inc., is resigning from the business to pursue other opportunities.

"I am very proud to have been a part of the team and helping to build such a strong company," Owens said. "Ritchie Bros. has successfully integrated IronPlanet into the business and has clearly demonstrated that they are the industry leader in both on-site and online marketplaces."

"I want to thank Greg for his leadership in helping me bring Ritchie Bros. and IronPlanet together, and in agreeing to stay on with the combined company through the past 12 months to ensure a successful integration," said Ravi Saligram, CEO.  "I wish Greg all the best in his future endeavors."

Ritchie Bros. completed its $758.5 million acquisition of IronPlanet, an online marketplace for heavy equipment and other durable assets, on May 31, 2017.