Platinum Tools Founder Lee Sachs Steps Down as President
Founding partner David Johny will become general manager and assume day-to-day control of the company, with Sachs serving as a consultant.
NEWBURY PARK, Calif. — Platinum Tools announces that company founder Lee Sachs “will take a first major step toward a well-earned retirement” and step down from his role as president.
Sachs will now focus on special projects so that the company continues to benefit from his years of experience.
“Platinum Tools has been a part of me every day for more than 20 years,” says Sachs. “With last year’s acquisition of the company by NSi Industries, it is time for me to begin handing off the day-to-day operations to the team that will take Platinum Tools into the future. While I’m looking forward to some more free time, it would be hard to just leave something that you have known and loved for so long, so I’m excited to move into a consulting role.”
Sachs’s long-time business partner and Platinum Tools Co-Founder David Johny will take on the role of general manager and assume day-to-day control of the company.
“As a founding partner and Platinum Tools’ long-time director of operations, David was the obvious choice to step into the new general manager role,” says G.R. Schrotenboer, CEO of NSi Industries.
Johny comments, “As a partner here, I’ve always known I needed to be ready and able to step in and run the company. Now that it has happened, I find it is both humbling and exciting. I’m thrilled that my friend Lee will get to spend more time enjoying his success, and I’m grateful that our new owners are committed to maintaining Platinum Tools’ business model.”
Founded in 1997, Platinum Tools is a leading manufacturer of solutions for the preparation, installation hand termination and testing of wire and cable. The company employs approximately 40 people.
Platinum Tools’ products have earned accolades from SSI such as Top Tech Innovation in 2016 and 2018, and a Most Valuable Product (MVP) award in 2017, in addition to being named the top brand leader in the Tools & Testers category in sister publication CE Pro Magazine’s 2018 Brand Analysis report.
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