President Michael Hadjinian Named One of Family Business Magazine’s 2023 CEOs to Watch
Michael Hadjinian, President at Magnetic Products Inc. (MPI), was among a small group of leaders recognized by Family Business Magazine as a CEO to Watch in their November – December 2023 issue. The list recognizes “23 standout chief executives (that are) skillfully navigating their companies through today’s complex challenges.”
“I am honored to be among those recognized,” said Hadjinian. “This is a wonderful company and family to be a part of, and to know that I am continuing the legacy of the first-generation owner while preparing both the company and his son to continue long into the future is thoroughly rewarding.”
As noted in the magazine, leading a family business has unique challenges that extend beyond the daily operations of a company – upholding the values instilled by the owner, ensuring harmony among family members during periods of transition, and progressing and changing the company in ways that will secure its future without betraying the trust and vision of the owner.
“Michael’s superpower is his empathy,” says Kyle Rhodes, Vice President of Business Development at Magnetic Products, Inc and future second-generation leader. “He has created an environment where every voice is heard, and every person is acknowledged and valued. Plus, his ability to navigate the transition from Keith Rhodes – current owner and my father – with the skill of a seasoned mentor and the grace of a genuine, caring person, has already taught me volumes about the kind of leader I want to be.”
Michael took over as President when Keith, the Founder, took the first steps toward retirement to offer the stability of a career businessman and serial entrepreneur who has navigated through leadership transitions, complex business turnarounds, and guided organizations through operational and strategic challenges – not to mention has background in the magnetics industry.
“Keith and I had known each other in business for some years when I was the CEO of another firm in the magnetics industry,” says Hadjinian. “We were not directly competitive, and when we talked, we just liked one another and saw eye-to-eye on many matters.”
“As my career was at a transition point, he asked if I was open to leading his company and mentoring the team and his son. It was perfect timing, and I dovetailed into this role as president seamlessly. Keith has been able to begin the process of retiring and I have focused on developing our people, recruiting talent we need to be able to scale, and building processes that will sustain the company into the future.”
“Keith knows that the company will be prepared to continue with a second generation, and I get the satisfaction of mentorship within an environment has a culture and values that keep people here for decades.”
Family Business Publishing has been a resource for multigenerational family businesses and enterprises for more than 35 years, covering everything from succession planning to family dynamics to wealth management. In addition to the print magazine and online media, Family Business Publishing hosts national conferences to educate family firm stakeholders regardless of the size or age of the company. The conferences also allow families to network and learn from shared experiences.
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