29.05.2014

New CEO for WesternOne

Canadian rental company WesternOne has appointed Peter Blake as chief executive, replacing Rob King, who has acted as interim chief executive since September 2013. King will continue in his role as chairman.

The new appointment takes effect in September, as Blake is currently chief executive of Ritchie Bros. Auctioneers, but announced back in October that he would step down from his role at Ritchies this year.
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Peter Blake

Blake joined Ritchie Bros. as controller in 1991, became chief financial officer in 1997 and was appointed chief executive in 2004. He began he career as an auditor with KPMG and Price Waterhouse Cooper.

King said: “Peter brings extensive knowledge and experience of leading a highly successful organisation that has grown to a global scale and created exceptional shareholder value. Under Peter’s leadership Ritchie Bros. has grown in 10 years from a $250 million market cap business to a $2.5 billion market cap business. Peter’s credentials from the construction and infrastructure background are ideally suited to the WesternOne business. We are confident that he is the right CEO to lead this next exciting stage of growth.”

Blake added: “WesternOne has achieved a solid track record of growth and I’m excited about the appointment. I look forward to working with the leadership team when I join in September and driving future growth together.”

WesternOne recently reported its first quarter results with revenues up over 52 percent to $116.6 million, while pre-tax profits more than quadrupled from $823,000 last year to just under $4 million this year.