Edward C. Renenger Named President and CEO, James G. Steiker Transitions to Chairman
BALA CYNWYD, PA, January 8, 2020 – SES ESOP Strategies announced that Edward C. Renenger has become President and CEO. He succeeds James G. Steiker, who will continue his leadership role with SES as Chairman. Mr. Renenger previously served as COO of the firm.
The move comes as part of the company’s succession and transition plan.
“Jim and I will continue to collaborate on strategy, and I am thankful that Jim will be actively involved on a daily basis as we build on the strong foundation he established,” Mr. Renenger said. “It’s an honor to have this opportunity, and I’m excited about the future and confident this strategic transition will be seamless.”
“Considering the business we are in, succession and transition has always been part of our business plan,” Mr. Steiker said. “I’m eager to continue to grow the firm, and I firmly believe Ed is uniquely suited to drive the company’s continued success.”
Together with its affiliated companies from the Stevens & Lee/Griffin platform, SES ESOP Strategies brings together one of the largest core groups of ESOP lawyers, consultants and investment bankers in the U.S. SES professionals work with private company owners across the country to design, fund and implement transactions for succession and sale using Employee Stock Ownership Plans (ESOPs), and to assist current ESOPs in ensuring long-term sustainability with substantial employee ownership.
Mr. Renenger advises business owners on how to sell their companies to employees through an ESOP. He also advises on 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 works with the entire range of ESOP-owned companies.
In addition to his role at SES ESOP Strategies, Mr. Renenger is Co-Chair of the Employee Benefits and Executive Compensation Group at Stevens & Lee, an affiliated company of SES ESOP Strategies, and along with Mr. Steiker, also Co-Chairs the firm’s ESOP Group.
Mr. Steiker is a corporate, pension and tax attorney and financial advisor with more than 30 years of experience in ESOPs and other employee ownership matters. He focuses his practice primarily on ESOP design, transactions and compliance in entrepreneurial companies.
Mr. Steiker has served on the ESOP Association Board of Governors and is a past Chair of the ESOP Association’s Advisory Committee on Finance. He is also a Foundation Trustee of the Employee Ownership Foundation and a former member of the Board of Directors of the National Center for Employee Ownership. He is a director of the Employee Ownership Expansion Network and also serves as a Director of seven ESOP companies.