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Family Owned Business with a Non-Family Leader: Recipe for Success!
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In this episode of Poised for Exit, we had the honor of interviewing Mike Moroz, President and CEO of Walters Recycling and Refuse. A man with years of C level leadership experience in a variety of industries, who has really made his mark using his ability to scale companies, whether public or private!
Mike says that working for family business as a non-family member can be challenging at times, but for the most part has been a very rewarding experience that he still enjoys immensely. He credits much of how well they're doing as an organization to the University of St Thomas Family Business Center and its long time Executive Director, Jon Keimig.
The Walters family is moving into their second generation of leadership. At one point all four children of the two founders worked in the business, but three have since moved on to launch and grow their own enterprises. The oldest child remains as the COO of the company and according to his 'boss', is doing a fantastic job in his role. At some point, he could be groomed to succeed Mike, or the family will opt to seek outside leadership again. Time will tell, but Mike is still in growth mode and doesn't plan to go anywhere.
There were many tips and stories that Mike shared; you'll want to hear them.
Listen to the episode here.
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