b'All in the FamilyOne of the biggest defining features of many independent seed companies is their complex, beautiful, sometimes challenging intersection of business and family. Madeleine Baerg JEFFREY RENKSgreat-grand- After the business incorporated in 1936, father, grandfather and grandunclethe family board of directors became the started selling hybrid corn seed in 1934.decision-making body, and that model is The business was incorporated as Williamhow we conduct business today. We each F. Renk and Sons in 1936, the first familyhave our areas of expertise and responsi-farm corporation in the United States. Hisbility, but the board is the ultimate arbiter dad and uncles took over the late 1960s. somewhat different than an organiza-In 2000, the next generation of Renkstion with a CEO or corporate president.Jeffrey, brother Brett and their cousinThe model is successful because it Alexstepped into leadership of Renkengages family members who elect to Seed. Today, Renk Seed sells in 11 statesparticipate, and we are blessed with talent but remains family-owned and operated.to build a business around.We sat down with Jeffrey to talk about how his family keeps their family businessSW: Given the opportunities and on course. challenges of the seed industry today, how is succession planning SW: Whats beneficial abouttoday different compared to working in a family businessprevious generations?compared to a non-family business?JR: Our business is organized as a C Jeffrey Renk (JR): Not sure that Im quali- corporation because of issues unique to fied to answer, I have virtually no experi- the business during the Great Depression. ence outside our business. In a recentStock ownership has eased transitions so conversation with a key employee whoSW: Do you feel a weight ofthat we are now the fourth-generation had extensive experience in the corpo- responsibility to previousowners of the corporation, a rarity in rate world he shared that the biggestgenerations to uphold what theyfamily businesses. C corporations are not benefit was the lack of drama. From myprioritized and their style ofeasy to sell, and I picture my grandfather perspective I think the pride and the pur- leadership/decision making, or dowith a wry smile every time the issue pose are huge benefits, at this point in myyou feel freedom to lead in yourarises. In addition, we have resisted the life its about the mental health for me. personal way?temptation to reorganize Renk Seed. The JR: I feel the presence of my forefathers. Icurrent structure keeps everyone focused SW: Is how you measure successam the fifth generation of the Renk farm,on the task at hand, Renk Seed, without different in a family business?mercifully I can say that its not a weight. Ithe distraction of maximizing the value of JR: At the end of the day, every businessremember my great grandfather as a child,specific assets. The difference today is the has to be profitable. In a closely held busi- and I served on the board of directors atcomplexity of our industry and the very ness our path may not be as linear as thatRenk Seed with the two previous genera- specific skills we think necessary to thrive. taken by a much larger entity. Ownership,tions. Ill call it a good old fashioned homeThe next generation is stepping up and management and a fraction of the laborschooling. Our business has thrived in theI expect to spend the remaining active force are one and the same. Our groupera of trait technology, so taking what theyyears of my career training, mentoring has a managerial bias, and the decisionbuilt and expanding on that certainly helpsand ultimately enabling ownership for the making is focused almost exclusively oneliminate any sense of weight or being innext generation of the descendants of our products, customers and processes. the shadow of the previous generation.William F. Renk.SW40/ SEEDWORLD.COMJANUARY 2024'