Global Auctioneer Catches UVic Prize

Dave Ritchie, chairman of Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, is being recognized by the University of Victoria’s faculty of business as the faculty’s 2005 Distinguished Entrepreneur of the Year.

The annual award acknowledges an inspirational entrepreneur who has had a significant and positive impact on the global community through his or her business leadership.

“Dave is a real inspiration,” says David Schneider, chair of the faculty’s board of advisors. “He is a role model of entrepreneurial leadership to the business community and to our students.”

The Kelowna-born Ritchie and his brothers built their father’s used furniture store into a global leader among industrial auctioneers. Ritchie Bros. is listed on the Toronto and New York stock exchanges and achieved gross auction sales in 2004 of approximately $1.79 billion, a 14 per cent increase over 2003.

“Dave Ritchie built his business on service excellence,” says Dr. Ali Dastmalchian, professor and dean of business. “He knows it’s all about the customer and that’s what we’re teaching our students.”

Nominations for the second annual UVic Distinguished Entrepreneur of the Year Award are considered by a five-person panel made up of members of the faculty’s board of advisors. The panel reviews the nominations based on a set of criteria including vision, entrepreneurial drive, and impact on the Canadian and global economies. Last year’s winner is Jeff Mallett, former president and chief operating officer of Yahoo.

Ritchie will be presented with the award at a gala ceremony on May 25 at the Victoria Conference Centre. For more information and tickets visit www.business.uvic.ca/deya or call (250) 721-6406.

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