Proxibid Elevates Downs to CEO; Hoberman Becomes Board Chairman

OMAHA, Neb.--(BUSINESS WIRE)--Proxibid (www.proxibid.com), the world’s largest, most trusted marketplace for buying and selling high value and specialized assets, today announced that Ryan Downs, president of Proxibid, has been named Chief Executive Officer of the company. Former CEO, Bruce Hoberman, will continue to serve as Chairman of the Board.

“This is an exciting time for Proxibid and I’m very pleased to be a part of this company and to be a key leader in its growth and development.”

“I am entirely confident that Ryan will be an excellent CEO for Proxibid,” said Hoberman. “As president and CEO, he is now in the perfect position to drive our Company forward, enabling us to shape our vision and future strategy. I look forward to watching Proxibid grow under Ryan’s guidance and leadership.”

Downs, who joined Proxibid as president in August, 2010, has been responsible for driving the strategy, vision and day-to-day operations for the Company. As both president and CEO of Proxibid, Downs will continue to oversee daily operations at the Company, as well as implement changes and strategy to achieve the company’s long-term goals and vision.

“I’m honored to have been named CEO of Proxibid and look forward to the change and growth that will happen in the next few years,” said Downs. “This is an exciting time for Proxibid and I’m very pleased to be a part of this company and to be a key leader in its growth and development.”

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About Proxibid
Proxibid provides asset owners of all sizes and buyers with access to the world’s largest, most trusted online marketplace and selling solutions for excess inventory. More than $2 billion in inventory passes through Proxibid’s marketplace annually in product categories that include heavy equipment; commercial and industrial equipment; real estate; fine art, antiques and collectibles and more.

Founded in 2001, Proxibid is headquartered in Omaha, NE. For more information about Proxibid, please visit www.proxibid.com.