Elmhurst, IL (January 2024) — Adams Magnetic Products is pleased to announce the hiring of Timothy Dietrich as Chief Financial Officer. Dietrich, who accepted the role in 2023, has been overseeing Adams’ IT, HR, Finance, and Supply Chain functions since November.
Based in the company’s Chicago facility, Dietrich is responsible for the company’s financial and operational strategy, including monitoring financial performance; preparation and analysis of all financial reporting and statements; and monitoring of cash flow, investments, insurance, and budgeting, in addition to overseeing the company’s IT, HR, and Corporate Supply Chain departments. Dietrich is John Cosmas’ successor; Cosmas has transitioned to a role on the Adams Board of Directors.
A native of Buffalo, NY, Dietrich has lived and worked in New York City, London, Tokyo, and Chicago. Prior to accepting the Adams role, he served as head of finance and operations for several organizations of a varying sizes, both domestic and global. His diverse finance and technology backgrounds position Dietrich to successfully implement strategies focused on increasing revenues while streamlining expenses.
“Tim’s vast experience in corporate finance, business process improvement, mergers and acquisitions, management, strategy, will serve Adams well as we continue to set the industry standard for designing and manufacturing innovative magnetic products and assemblies,” says Maisch. “Over the past several months he has already proven to be a visionary leader for our organization.”
Dietrich holds a Master of Business Administration dual degree from Columbia Business School and the London Business School, a Master’s of Science in Computer Engineering from Manhattan College, Doctorate of Philosophy from DePaul University Jarvis College of Computing and Digital Media, a BA in Physics from SUNY, and BS degrees in Economic and Psychology from Northwestern University. He has been an Enrolled Agent of the IRS, Department of Treasury, PMP certified and is currently a member of the Upsilon Pi Epsilon Honor Society for Computing and Information Disciplines.
An avid traveler, Dietrich spends his downtime with his four children. He also volunteers his personal tax training and preparation services to a local Chicago civil rights and social action organization.
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Established in 1950, Adams Magnetic Products, LLC. sets the standard for designing and manufacturing innovative magnetic products and assemblies. One of the oldest U.S. companies in the industry, its staff draws from a depth of engineering, fabricating, coating, testing, sourcing, handling, and distributing expertise managing inventory and delivery to coincide with customers’ production cycles and schedules. Adams stocks a large variety and quantity of the most popular neodymium, samarium-cobalt, alnico, ceramic magnets, magnetic assemblies and other magnetic products, and has the capabilities to produce magnets of virtually any shape and size. Adams is ISO 9001:2015 Certified and ITAR Registered.