Issue link: https://nebusinessmedia.uberflip.com/i/1288964
wbjournal.com | Book of Lists 2020 | Worcester Business Journal 103 G E N E R A L I N T E R E S T F O C U S Highest-paid CEOs Ranked by total compensation for most recent fiscal year available for public companies headquartered in Central Mass.(a) Name Total compensation CEO pay ratio/ median employee compensation (b) Salary Bonus Non-equity incentive plan compensation Option awards Stock awards Other annual compensation 2019 1 Ernie Herrman president & CEO The TJX Cos. Inc., Framingham $19,083,676 (c) 1,590:1 $12,006 $1,600,001 —- $5,030,082 —- $9,632,872 $615,177 2 Michael F. Mahoney chairman & CEO Boston Scientific Corp., Marlborough $15,764,140 240:1 $65,630 $1,274,740 —- $1,996,800 $2,699,992 $9,087,249 $296,069 3 Stephen P. MacMillan chairman, president & CEO Hologic Inc., Marlborough $12,374,753 135:1 $91,403 $1,060,900 —- $1,814,139 $2,027,373 $7,082,065 $390,276 4 Christopher J. Baldwin (d) former president & CEO BJ's Wholesale Club Inc., Westborough $9,971,163 542:1 $18,393 $1,342,308 —- $1,549,125 $1,535,811 $5,062,489 $481,430 5 Krishan Canekeratne chairman & CEO Virtusa Corp., Westborough $7,687,943 630:1 $12,659 $513,000 —- $545,749 —- $6,920,730 —- 6 John C. Roche president & CEO The Hanover Insurance Group Inc., Worcester $4,979,777 51:1 $97,544 $936,538 —- $1,358,500 $650,024 $1,950,189 $84,526 7 George P. Sakellaris president & CEO Ameresco Inc., Framingham $3,897,493 39:1 $100,223 $800,000 $200,000 —- $2,870,229 —- $27,264 8 Robert J. Willett president & CEO Cognex Corp., Natick $3,848,831 53:1 $72,959 $376,443 —- —- $3,406,320 —- $66,068 9 James Green chairman, president & CEO Harvard Bioscience Inc., Holliston $2,280,723 —- $264,789 —- —- —- $1,972,503 $43,431 10 Daniel P. McGahn president & CEO AMSC, Ayer $2,111,508 30:1 $71,432 $500,000 —- $622,500 —- $978,750 $10 11 Donald R. Young president & CEO Aspen Aerogels Inc., Northborough $1,859,611 —- $515,000 —- $621,957 $352,500 $352,498 $17,656 12 Jeffrey A. Duchemin (e) former president & CEO Harvard Bioscience Inc., Holliston $1,845,357 —- $305,461 —- —- $428,400 $663,510 $447,986 13 Douglas A. Starrett president, CEO & director The L.S. Starrett Co., Athol $1,450,786 46:1 $31,820 $425,000 —- $374,000 —- $133,140 $15,484 14 Valentin P. Gapontsev chairman & CEO IPG Photonics Corp., Oxford $1,251,984 40:1 $31,205 $930,000 —- $255,750 —- —- $66,234 15 Christopher J. O'Connell (f) former president & CEO Waters Corp., Milford $1,084,859 15:1 $74,654 $945,000 —- —- —- —- $139,859 16 Yossi Aloni (g) president & CEO SeaChange International Inc., Acton $1,042,604 —- $374,277 $50,211 $226,351 $391,765 —- —- Source: The U.S. Securities & Exchange Commission proxy statements. Note: Compensation data for Fitchburg's Micron Solutions was unavailable at press time. (a) Compensation is for fiscal year 2019 unless otherwise noted. (b) Disclosure requirement is a component of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act; see company filings for details on how pay ratio and median compensation were calculated. (c) All figures for fiscal year 2020 (d) Lee Delaney succeeded Baldwin, who resigned from post as CEO effective Feb. 2, 2020. Baldwin currently serves as executive chairman of the board. (e) Upon resignation, succeeded by James Green in July 2019 (f) Stepped down as president and CEO; succeeded by Udit Batra effective Sept. 1, 2020 (g) Appointed chief commercial officer on Jan. 2, 2019, then appointed as president and CEO on Aug, 29, 2019. Fiscal 2020 compensation includes that for position as chief commercial officer and as CEO. - Compiled by: Heide Martin, hmartin@nebusinessmedia.com Sources: U.S. Securities & Exchange Commission, Internal Revenue Service 990 forms, as reported through Guidestar The Central Mass. executive pay gap WBJ examined the total compensation of 271 executives at leading Central Massachusetts business organizations to see the difference between male and female pay. Median Median male female Public companies (71 men, 7 women) $2,163,497 $2,457,965 Healthcare organizations (31 men, 19 women) $449,852 $277,009 Colleges (59 men, 47 women) $231,472 $200,000 Social service nonprofits (22 men, 15 women) $190,677 $136,852