Founded in 1955, Renco Electronics Inc. designs and manufactures transformers, inductors and coils in surface-mount, through-hole and chassis-mount geometries. Renco builds to print, works in conjunction with clients' engineering teams, or provides custom design to client specifications.
After more than 20 years of service to Renco, Edward. W. Rensing became the company's CEO and president. Working his way up through the ranks gave him a comprehensive understanding of the company's niche in the electronics field. Beginning as a member of the engineering and sales teams, Rensing traveled the world exchanging ideas with customers. These dialogues served as a foundation of the goals he established as CEO.
Early on in his career, while working part time at Renco, a new business call came into the receptionist. When no one was available to take the call, Rensing volunteered to give it a shot. He spoke with the potential customer and offered to make a sample product. The company gave him the opportunity to handle the project with the customer, who turned out to be IBM. His efforts resulted in a $300,000 order, the largest in company history at that time.
As CEO, he has sharpened Renco's strategic focus and concentrated its research and development (R&D) investments on growth opportunities. Among those opportunities, Rensing broadened the company's product offerings across the consumer, commercial and industrial markets. He relocated its headquarters and North American manufacturing facility to the Southeastern United States. Additionally, he expanded manufacturing and distribution capabilities to the Far East.
Under Rensing's direction, Renco has emerged on the world stage as a leader in the design, manufacture and distribution of magnetic components. The emphasis on R&D recently yielded new low-cost, high-reliability ferrite-core materials, which can be used in aerospace and military applications requiring stable performance in severe temperatures.
Rensing led successful efforts to improve operations, recruit experienced engineers and bolster the position of Renco's product lines. The company recently launched three new surface-mount, ultra-miniature and high-power product lines.
Additionally, Rensing has built a strong inside support team, as well as a professional outside staff. Today, the company employs 150 staff members in the United States and another 850 overseas. Recently, an industry association named Renco one of the best places to work.
At the same time, Rensing has improved Renco's operating efficiency and execution, as well as its financial performance and customer focus. The result has been increasing growth and profitability, greater value for shareholders and customers, and a stronger competitive position in the global market. For the last four fiscal years, Renco has not only gained market share, but reduced its manufacturing cycle time to meet the increase in demand.
More than 1,000 clients around the globe turn to Renco to meet their needs for everything from toroidal, steel laminations or ferrite-core technology. The company remains committed to client satisfaction as the work load grows. Regularly conducted client surveys show satisfaction rates above 96%. Unlike many CEOs, Rensing encourages feedback from both employees and clients. He maintains a 24-hour hotline where he can be contacted with any issue.
The competitive and adventurous side of Rensing allows him to excel at the helm of Renco and shine through in his downtime. He's known as an avid tournament fisherman, hunter and boater. When he's not outdoors, Rensing works on building his growing collection of fossils and artifacts.
Known for his ability to make solid decisions at critical times, Rensing steered the company to an industrial product focus rather than telecommunications during the telecommunications boom in the late 1990s. Despite questions from the company's marketing department and industry peers, Rensing pushed to remain diversified. When the telecom bubble burst, Renco was prepared with the launch of 10 transformer product lines for industrial products.
His vision for the future includes lessons from his past.