Ritblat and Wagman resign

The founder of Colliers International Sir John Ritblat, and co-director Colin Wagman have resigned from the business.

Both directors handed in resignation notices yesterday- one day after the company was acquired by majority shareholder FirstService for £13.8m.

Sir John Ritblat as Conrad Ritblat set up the business in 1959.

Wagman re-joined the board as non-executive director in July 2011. He is deputy chairman and finance director of Delancey.

Colliers said this morning the resignations follow “the appointment of an administrator and the disposal of the company’s business to FirstService Corporation”.