Issue link: https://nebusinessmedia.uberflip.com/i/698742
www.wbjournal.com Book Of Lists 2016 • Worcester Business Journal 105 Highest-paid CEOs Ranked by total compensation in fiscal year 2015 for public companies headquartered in Central Mass. Name Total compensation Salary Bonus Non-equity incentive plan compensation Option awards Stock awards Other annual compensation 1 Carol M. Meyrowitz 1 The TJX Cos. Inc., Framingham $28,692,391 $1,575,000 $0 $4,582,886 $636,000 $16,485,000 $44,014 2 Ernie Herrman 2 The TJX Cos. Inc., Framingham $14,106,996 $1,327,693 $0 $2,968,577 $530,760 $7,954,700 $361,869 3 Christopher J. O'Connell 3 Waters Corp., Milford $12,232,667 $234,808 $1,700,000 $268,497 $7,499,233 $2,499,911 $29,218 4 Michael F. Mahoney Boston Scientific Corp., Marlborough $11,594,128 $967,740 $0 $1,825,000 $1,937,963 $6,587,016 $68,195 5 Joseph M. Tucci EMC Corp. 4 , Hopkinton $10,407,710 $1,000,000 $0 $1,144,422 $0 $7,942,324 $320,964 6 Ronald L. Sargent 5 Staples Inc., Framingham $9,863,575 $1,249,208 $0 $0 $0 $8,225,007 $389,360 7 Frederick H. Eppinger The Hanover Insurance Group Inc., Worcester $5,220,755 $1,000,000 $0 $1,400,000 $1,213,399 $1,519,800 $87,556 8 Krishan Canekeratne Virtusa Corp. 6 , Westborough $3,588,724 $443,750 $0 $154,850 $0 $2,990,124 $0 9 Jay Samit 7 SeaChange International Inc., Acton $3,152,767 $144,232 $125,000 $0 $1,696,035 $1,187,500 $0 10 Daniel P. McGahn 8 AMSC 9 , Devens $2,061,336 $500,000 $0 $533,000 $1,018 $0 $10,536 11 Douglas A. Berthiaume 10 Waters Corp., Milford $1,783,035 $743,982 $0 $878,843 $0 $0 $78,231 12 Jeffrey A. Duchemin Harvard Bioscience Inc., Holliston $1,517,368 $489,667 $0 $0 $273,000 $0 $26,509 13 Valentin P. Gapontsev IPG Photonics Corp., Oxford $1,413,416 $687,981 $0 $713,582 $0 $0 $11,853 14 Douglas A. Starrett The L.S. Starrett Co., Athol $868,275 $402,000 $0 $0 $0 $113,685 $0 15 Geert Cauwenbergh 8 RXi Pharmaceuticals Corp., Marlborough $801,726 $381,274 $114,000 $0 $305,900 $0 $552 16 Raymond C. Kubacki Psychemedics Corp., Acton $732,770 $450,000 $45,000 $0 $42,020 $185,150 $10,600 17 George P. Sakellaris Ameresco Inc., Framingham $600,743 $564,667 $0 $0 $0 $0 $36,076 18 Robert H. Eder Providence and Worcester Railroad Co., Worcester $492,540 $459,401 $0 $0 $0 $0 $33,139 19 Matthew Boyle 11 Sevcon Inc., Southborough $329,532 $327,183 $0 $0 $0 $0 $2,349 20 Salvatore Emma Jr. Arrhythmia Research Technology Inc., Fitchburg $269,700 $236,250 $0 $0 $0 $0 $0 Source: The U.S. Securities and Exchange Commission proxy statements 1 Currently executive chairman of the board, Meyrowitz served as CEO until Jan. 31, 2016. 2 Currently CEO, Herrman served as president during fiscal year 2015. 3 Assumed the president & CEO positions on Sept. 8, 2015 4 The acquisition by Texas-based Dell Inc. received Federal Trade Commission approval on Feb. 22, 2016; shareholder vote is pending. The combined company would be private and led by current chairman & CEO of Dell Inc., Michael Dell. 5 Resignation effective June 14, 2016 6 On March 3, Virtusa Corp. acquired a majority interest in Polaris Consulting & Services LTD. VirtusaPolaris is the new marketing brand. 7 Replaced as CEO by Edward Terino in April 2016 8 Data are for fiscal year 2014; proxy statement for fiscal year 2015 was unavailable at press time. 9 Formerly American Superconductor Corp. 10 Currently serving as chairman of the board 11 Although a resident of the United Kingdom, Boyle's compensation was reported in U.S. dollars in the proxy statement. - Compiled by: Stephanie R. Meagher, smeagher@nebusinessmedia.com After 13 years of transforming the company from a down-on-its- luck firm to a global player in the property and casualty insurance business, Frederick H. Eppinger ended his 13-year run as president and CEO of Worcester-based Hanover insurance on June 20. When Eppinger took the reigns at the Hanover in 2003, things were not going well. The company's focus was narrowing, the now-defunct life insurance division was falling apart, and recruiting was a nightmare. At the time, he said, he had to be a very hands-on leader. From that time, Eppinger oversaw the rise of the company stock price by more than 250 percent. In 2015, it had its top performing year, with $250 million in operating income. "Now with the momentum, and the stock price as high as it's ever been, and the earnings are great, and with the team in place, I knew it was a good time to leave," Eppinger said. Not only has Eppinger sharpened the Hanover's community focus, but he's also completely transformed the company's culture, Hanover Chairman Michael Angelini said, and because of him, it has a great team in place. "As successful as he has been as CEO, one person doesn't define an organization. He has a great team of leaders, and his legacy is just that – a thriving company that is distinctive, responsible, responsive and with a team that makes it reliable," Angelini said. "So, it doesn't mean that Fred leaving the company is going to cause us any harm." Eppinger was replaced by Joseph M. Zubretsky, 59, who previously held several executive positions with Hartford insurer Aetna. - Laura Finaldi Eppinger leaves Hanover after 13 years Frederick H. Eppinger