Charles and Rhoda Steiner have pledged $100,000 to the National Association of Electrical Distributors (NAED) Education & Research Foundation's Channel Advantage Partnership (CAP) Endowment. The commitment was made in honor of the employees of Gee Electric Company, Central Supply, Blue Grass Electric and Branch Electric Supply Co.
“The electrical distribution industry, NAED, and the education foundation have been very good to me. It's payback time,” says Chuck Steiner, former CEO of Branch Group.
During his career, Steiner acquired and divested a number of small electrical distributorships and in 1984 purchased Branch. In 2000, Branch was sold and today is a part of Rexel S.A., the world's largest electrical distributor.
Steiner also played a key role in the creation of several industry organizations, including: EDIC, a captive insurance company for distribution; Vantage Group, an alliance of six North American distributors as a national sales organization; and IMARK, an electrical marketing group.
Steiner's donation will become part of an endowment fund for the NAED Education & Research Foundation. The principal amount of the endowment will remain untouched, while the interest will be used to commission future projects and studies. As a $100,000 contributor, Steiner will be recognized at the governor level and have a permanent position on the Channel Advantage Partnership Council, which will help select future educational programs and research projects.
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