REUTERS/Rick Wilking/File PhotoAug 2 (Reuters) - Industrial equipment auctioneer RB Global Inc (RBA.TO) said on Wednesday it replaced its chief executive officer, Ann Fandozzi, who recently spearheaded a $7.3 billion acquisition, amid a dispute over equity compensation.
The company, formerly called Ritchie Bros Auctioneers, said Jim Kessler, its former chief operating officer and president, has been named CEO.
The company gave a second-quarter earnings preview, reporting that revenue jumped 128% to $1.1 billion and net income climbed 63% to $86.8 million.
The company said Fandozzi asked the board to approve a program "out of step with market standards."
"My focus has been on sustaining momentum while solidifying an all-equity, at-risk incentive program to align management with long-term performance and shareholder value," she said.
Persons:
Richie Bros, Rick Wilking, Ann Fandozzi, Ritchie, Auctioneers, Jim Kessler, Eric Jacobs, Jacobs, Fandozzi, Glass Lewis, Kessler, Svea Herbst, Bayliss, Pratyush Thakur, Anil D'Silva, Sriraj Kalluvila, Leslie Adler
Organizations:
REUTERS, Global Inc, Investors, RB Global, New York Stock Exchange, Reuters, U.S, Services, Svea, Thomson
Locations:
Longmont , Colorado, U.S, Boston, Bengaluru