Worcester Business Journal

6 Worcester Business Journal | June 27, 2022 | wbjournal.com Every Space Is An Experience We design for how you live, work and learn. Proud architects for Clark University's Michelson Theater project 508.752.2831 | lpaa.com B R I E FS Westborough's Covectra taps CFO as new CEO Westborough supply chain support company Covectra named Gary Miloscia as its new president and CEO, replacing Co-founder Steve Wood, who will transition to serve on the board of directors. Miloscia has been with the company since 2015 when he joined as the company's CFO and chief marketing officer, according to the June 14 press release from Covectra. Prior to Covectra, the executive served in senior financial roles at Fidelity Investments in Boston, Rite Aid subsidiary Health Dialog, and New York credit card company American Express. "Given his many strengths, we believe Gary is the ideal CEO to lead Covectra into its next chapter of growth and success," said Dr. David Bear, co-founder, chief medical officer, and board chairman. Covectra was founded in 2008 by Bear and Wood and has a facility in Pennsylvania, in addition to its Westborough headquarters. e company specializes in track-and-trace technology, which tracks a company's inventory through the supply chain. Gould's Plaza in Acton for $7.2M Gould's Plaza at 248-270 Great Road in Acton has sold for $7.2 million to East Acton Plaza LLC, an entity registered to Lawrence Gordon, president of Colonial Automotive Group, parent of Colonial Chevrolet of Acton at 171 Great Road. e shopping center was owned by an entity registered to Marvin Gould. Gould's Plaza is anchored by Donelan's Supermarket and Gould's Distinctive Clothing, a family business dating back to 1934 when it was opened as Gould's Outlet in Clinton. e deal closed on June 3, according to the Southern Middlesex Registry of Deeds. e property was last assessed by the Town of Acton at $6.5 million. Continued from page 5 Gary Miloscia, CEO of Covectra We're keeping an eye out for a recession Are you preparing your business for an economic slowdown, or are you steaming ahead? Marlborough medical device maker Boston Scientific announced June 15 plans to buy a $230-million majority stake in a Korean manufacturer of endoscopic devices. Merger-and-acquisition activity typically slows as the national and global economies face significant headwinds, as companies get more conservative with their growth plans in anticipation of a downturn. A recession, if it does turn into that, can also cause an increase in M&A activity, as struggling companies can become acquisition targets. When polled online, more than 80% of WBJ readers said their businesses are preparing for a slowdown or at least monitoring the situation. Yes, we're preparing for a slowdown. 35% Not yet, but we're monitoring the situation. 46% No, we don't anticipate a slow down in our business. 20% F L AS H P O L L W

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