Worcester Business Journal

18 Worcester Business Journal | May 27, 2019 | wbjournal.com P O W E R 5 0 M O N E Y & I N F L U E N C E Mike Angelini CHAIRMAN BOWDITCH & DEWEY, WORCESTER Ernie Herrman PRESIDENT & CEO THE TJX COS., INC. Stephen MacMillan CHAIRMAN, CEO & PRESIDENT HOLOGIC, MARLBOROUGH Residence: Worcester Colleges: Wesleyan University, Duke University Angelini's defining quality may be he doesn't like to sit on the sidelines. And, over the course of a 50-year career, he hasn't, being a voice of reason and change in his many roles: As a board member, he helped pick the last three CEOs of Hanover Insurance Group; on the Massport board, he advocated for the state to purchase Worcester Regional Airport from the city, resulting in $100 million in investments. Entering his late 70s, An- gelini is going strong. During this spring's meetings of the Worcester Redevelopment Authority, Angelini was the driving voice behind efforts to improve downtown, including advocating seizing the rundown Midtown Mall from its owner via eminent domain. Where is the Central Mass. community headed? I'm bullish on Worcester, and this is an extremely oppor- tunistic time. As an urban center 40 miles from one of the country's most successful cities, we have challenges, but they are outweighed by distinctive advantages. is is the time to exploit them. Increasing employment by attracting businesses, improving rail transportation to Boston and building the best urban school system in New England are essential. We need to accomplish these urgently. Time is our enemy, and not our ally. That would be quite the read: I'm an open book, for better or worse. College: Boston College Take a look at TJX's performance these days under Herrman, and you'd never know brick-and-mortar retail is facing nearly an existential crisis. e corporate owner of T.J. Maxx, Marshalls, HomeGoods and other retailers hit $39 billion in revenue last year, up 9% during a time when thousands of Payless ShoeSource, Gymboree and other stores have closed. TJX opened 236 stores last year, including the launch of its new Homesense chain, which debuted in the company's hometown of Framingham as a similar but complementary addition to HomeGoods. Herrman, a 30-year veteran of TJX who took over as president and CEO in 2016, now oversees a behemoth, with more than 4,000 area employees and roughly 270,000 across the globe. And he's paid accordingly, with a total compensation of nearly $19 million last year. Expect more eye-popping numbers from Herrman and TJX. He has spearheaded a goal of expanding by 1,800 stores across the world in the coming years, adding to its existing 4,000 locations. ere's one thing Amazon and other online retailers can't compete with: What industry insiders call the treasure hunt TJX's stores offer, with shoppers never quite knowing what to expect to pick up with a price sticker showing a major discount. In Central Massachusetts, TJX supports nonprofits like Save the Children, United Way of Tri-County, and Boys & Girls Club of Metrowest. College: Davidson College, Harvard University e board of directors at Hologic knows it has a star executive in MacMillan. Just look at the vote it took in 2017 to give him a $30-million bonus, just to keep other companies from luring him away. at and other awards and options gave MacMillan $42 million in compensation last year – making him the fih highest-paid CEO in the entire country. His compensation offers one look into a medical device company that otherwise flies mostly under the radar but has grown considerably since MacMillan took over in 2013. At that time, Hologic was $4 billion in debt, saddled with declining sales and had what the company called no meaningful products in the pipeline. In MacMillan's time leading Hologic, the company has seen revenue climb by 28%, hitting $3.2 billion last year. at success doesn't look likely to end anytime soon. Hologic bought California breast health firm Focal erapeutics last fall for $125 million, and the company has opened a training facility in Belgium as it looks to grow its European, Middle Eastern and African markets. MacMillan, a Harvard Business School graduate, previously led sBioMed, a biomedical research company, and had executive roles at two giants in the medical device field, Stryker Corp. and Johnson & Johnson. Sue Mailman OWNER COGHLIN ELECTRICAL CONTRACTORS, INC. & COGHLIN NETWORK SERVICES INC., WORCESTER Robert J. Morton PRESIDENT & CEO MILLBURY SAVINGS BANK Residence: Worcester College: Northeastern University Mailman employs more than 550 people, and her 134-year-old firm has a reach extending throughout New England and into New York. She is a strong voice for the union construction industry, particularly work- ing with the International Brotherhood of Electrical Workers. Yet, even these impressive stats belie the large influence Mailman has throughout Central Mass. An active member of the Worcester Regional Chamber of Commerce board – and its former chairwoman – and a board member of agencies like the United Way of Cen- tral Massachusetts, Mailman constantly has her finger on the pulse of the community, making connections to help developments flourish. She serves as a mentor to young women and men looking to grow their business, such as with Amy Lynn Chase of Crompton Collective. Lately, Mailman has been pushing for improvements in public education, working with Worcester Technical High School and chairing the Quinsigamond Commu- nity College board of trustees and executive committee. Where is the Central Mass. community headed? We are all waiting to see!!! I am excited! Next she'll run for president: I enjoy watching the show "Madam Secretary." Even my television shows are politically driven. Residence: Sutton Colleges: Worcester State University, Clark University, Babson College Banking mergers and acquisitions have hit a lull in Central Mass. lately. Yet, banks are still looking to take advantage of size efficiencies, and Morton is leading one such merger now. Millbury Savings Bank, which he's led as president since 2014, is merging with bankHome- town. Millbury will take the bankHometown name, but it's Morton who's overseeing the merger into a new en- tity with more than $1 billion in assets and 15 branches. Morton also has his mind on college tuition costs. In the 1980s, Morton attended Worcester State University free as a military veteran and got his MBA from Clark University with the help of his employer's tuition reim- bursement program. Now, Morton serves on the board of the Worcester State University Foundation, where he prioritizes easing education costs. Where is Central Mass. headed? Worcester's upcoming developments will have a positive impact on the sur- rounding communities. If the city adopted a single-tax rate, that could encourage more outside investment. Born to ride: When my wife, Lisa, and I first found ourselves empty-nesters, we bought a Harley Davidson trike and started visiting historic bed and breakfasts throughout New England. ere's so much beauty in New England, we just want to slow down and enjoy it. Tina M. Sbrega PRESIDENT & CEO GFA FEDERAL CREDIT UNION, GARDNER Residence: Rindge, N.H. College: Roger Williams University Sbrega doesn't lead the largest credit union in Central Massachusetts; with $498 million in assets, GFA ranks No. 7 in the region. Yet, her commit- ment to fulfill GFA's founding mission of provid- ing financial services to unbanked populations resonated throughout the state in the last year. In September, GFA became the first – and remains the only – financial institution to offer banking services to the legal marijuana industry. e move comes with a risk, as marijuana remains classified federally as an illegal drug, but will help businesses and employees of the $1-billion industry earn and spend their money safely. Beyond the marijuana decision, Sbrega has GFA committed to offering competitively priced products, with a high-tech, high-touch service philosophy. GFA's better bank- ing team has more than 100 employees dedicated to that mission. Where is the Central Mass. community headed? e region will have continued gradual economic development, with Worcester being the epicenter. Economic data, particularly with respect to job growth, has a favorable outlook. Culinary CEO: I love to cook. Most people don't realize I can!

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