READING, PA, November 17, 2021 – Edward C. Renenger of SES ESOP Strategies presented in the 2021 Webinar on Small and Mid-Sized Business Succession Planning, hosted by WHYY and the Pennsylvania Center for Employee Ownership, on November 17, 2021.
Mr. Renenger was joined by Ken Baker, President and CEO of NewAge Industries, Kevin McPhillips, Executive Director of the PA Center for Employee Ownership, and William B. Stockwell, Chief Technical Officer and Chairman of Stockwell Elastometrics, Inc., in presenting “An Overview of Employee Ownership: An Alternative for Business Transition, Economic Growth, & Prosperity.” The presentation explored the benefits of an employee stock ownership plan (ESOP) for employees and employers in the context of business succession, tax incentives that drive ESOP transaction models, and insights on employee investment as well as regional and national success stories.
As President and CEO of SES ESOP Strategies and Co-Chair of the ESOP Group and the Employee Benefits and Executive Compensation Group at Stevens & Lee, Mr. Renenger advises business owners on how to sell their companies to employees through an ESOP and provides guidance across the entirety of the process – from feasibility assessments and establishing stakeholder structures to transactions and ongoing company administration.
Mr. Renenger also advises other ESOP-related transactions, including situations where ESOP-owned companies sell to outside buyers when they have determined that exiting the ESOP structure is appropriate for shareholders. He has particular experience working with ESOPs for financial institutions, such as community banks looking to an ESOP as a source of liquidity for founding shareholders and insurance companies who establish an ESOP in conjunction with a demutualization.
When not working with ESOPs, Ed advises clients on the structure and compliance of defined benefit pension plans and defined contribution plans, including 401(k) plans, especially in complex matters involving the Internal Revenue Service, the U.S. Department of Labor and the Pension Benefit Guaranty Corporation.
View a PDF of the presentation here.
Edward C. Renenger