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128 Worcester Business Journal | Book of Lists 2017 | wbjournal.com F O C U S G E N E R A L I N T E R E S T Highest-paid CEOs Ranked by total compensation in fiscal year 2016 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 Ernie Herrman 1 The TJX Cos. Inc., Framingham $20,180,755 2 $1,382,309 N/A $3,614,627 $527,072 $14,106,551 $160,103 3 2 Carol M. Meyrowitz 4 The TJX Cos. Inc., Framingham $19,559,697 5 $1,575,002 N/A $5,706,608 $631,618 $10,000,030 $1,597,465 3 3 Michael F. Mahoney Boston Scientific Corp., Marlborough $12,026,183 $1,042,191 $0 $2,354,625 $1,998,819 $6,246,767 $281,730 3 4 Ronald L. Sargent 6 Staples Inc., Framingham $10,664,052 $1,249,208 N/A $880,692 N/A $8,225,018 N/A 5 Christopher J. O'Connell Waters Corp., Milford $7,631,015 $849,750 $0 $1,299,954 $3,500,018 $1,840,312 $0 6 Joseph M. Zubretsky 7 The Hanover Insurance Group Inc., Worcester $7,598,515 $538,462 N/A $1,400,000 $3,000,232 $2,611,422 N/A 7 Krishan Canekeratne Virtusa Corp., Westborough $4,417,200 8 $462,500 N/A $237,500 N/A $3,717,200 N/A 8 Frederick H. Eppinger 9 The Hanover Insurance Group Inc., Worcester $4,335,571 $461,511 $357,000 N/A N/A N/A $1,386 3 9 Shira Goodman 10 Staples Inc., Framingham $3,773,894 $942,028 N/A $584,817 N/A $2,169,111 N/A 10 Jay Samit 11 SeaChange International Inc. 12 , Acton $2,355,000 $500,000 N/A $500,000 N/A $1,355,000 N/A 11 Edward Terino 13 SeaChange International Inc. 12 , Acton $2,290,563 14 $253,952 N/A $147,443 $814,680 $1,038,600 N/A 12 Robert J. Willett Cognex Corp., Natick $2,066,725 $376,442 N/A $564,415 $1,117,125 N/A N/A 13 John C. Slabbert 15 The Hanover Insurance Group Inc., Worcester $2,039,097 $418,500 N/A $515,592 N/A $296,591 N/A 14 Valentin P. Gapontsev IPG Photonics Corp., Oxford $1,481,397 16 $735,400 N/A $709,044 N/A N/A N/A 15 Jeffrey A. Duchemin Harvard Bioscience Inc., Holliston $1,352,414 $505,804 N/A N/A N/A N/A $822,501 17 16 Douglas A. Starrett The L.S. Starrett Co., Athol $1,015,145 $425,000 N/A N/A N/A $109,830 $480,315 3 17 George P. Sakellaris Ameresco Inc., Framingham $872,998 $587,253 $250,000 N/A N/A N/A N/A 18 Raymond C. Kubacki Psychemedics Corp., Acton $690,130 $462,500 $118,750 N/A $98,280 N/A N/A 19 Geert Cauwenbergh RXi Pharmaceuticals Corp., Marlborough $638,549 $413,723 N/A $197,600 $26,602 N/A N/A 20 Salvatore Emma Jr. Micron Solutions Inc. 18 , Fitchburg $267,258 $241,313 N/A N/A $25,945 N/A N/A TJX Cos. tops this year's list with not one but two chief exec- utives, as Ernie Herrman replaced longtime head Carol Meyrowitz. The parent company of Marshalls, T.J. Maxx and HomeGoods doesn't just pay well compared to other Central Massachusetts companies – it ranks right up there with the nation's top retailers and other notable brands. TJX executive compensation A look at where Herrman's total compensation measures compared to some others for 2016: C. Douglas McMillon, Walmart: $21.8 million Howard Schultz, Starbucks: $21.8 million Mark Fields, Ford Motor Company: $19.3 million Larry J. Merlo, CVS Health: $18.4 million Muhtar Kent, Coca-Cola: $16.0 million Stephen Easterbrook, McDonald's: $15.4 million Hubert Joly, Best Buy: $14.0 million And how Herrman stacks up to other top Massachusetts executives: Walter Uihlein, Acushnet Holdings (Titleist): $19.5 million Marc Casper, Thermo Fisher Scientific: $17.8 million Jeffrey Immelt, General Electric: $17.7 million Jeffrey Leiden, Vertex Pharmaceuticals: $17.4 million Thomas Kennedy, Raytheon: $13.7 million Source: The U.S. Securities and Exchange Commission proxy statements. Notes: N/A = not applicable. Joseph M. Tucci served as chairman & CEO of Hopkinton's EMC Corp. until Sept. 2016, when the company was acquired by privately-owned, Texas-based Dell Inc. Robert H. Eder served as chairman & CEO of Providence and Worcester Railroad Co., until Nov. 1, 2016, when it was acquired by Darien, Conn.-based Genesee & Wyoming Inc. FY 2016 proxy statement for Daniel P. McGahn, CEO of AMSC of Devens, was not available by press time. Matthew Boyle, CEO of Sevcon Inc., was not included because the company is headquartered in the U.K., and does not manufacture in Southborough; U.S. operations number 15 employees. 1 Served as president through FY 2016, which ended on Jan. 30, 2016; has been serving as CEO since Jan. 31, 2016, which is FY 2017 for The TJX Cos. Inc. 2 FY 2016 ended Jan. 30, 2016; FY 2017 total compensation was $18,536,866. 3 Change in pension value and non-qualified deferred compensation earnings 4 Served as CEO until Jan. 30, 2016, which is FY 2016 for The TJX Cos., Inc; has been serving as executive chairman through FY 2017, which ran Jan. 31, 2016 - Jan. 28, 2017. 5 FY 2016 ended Jan. 30, 2016; FY 2017 total compensation was $14,502,969. 6 Resignation effective June 14, 2016 7 Assumed position on June 20, 2016 8 FY 2016 ended March 31, 2016; FY 2017 proxy statement was not available at press time. 9 Retired on June 19, 2016 10 Assumed the CEO position in Sept. 2016. 11 Replaced as CEO by Edward Terino in April 2016 12 Announced a significant reduction in force on Feb. 13, to affect an unspecified number of employees. 13 Assumed position on April 6, 2016 14 FY 2016 ended Jan. 31, 2016; FY 2017 total compensation was $2,515,169. Source: Equilar Source: The U.S. Securities and Exchange Commission proxy statements. Notes: N/A = not applicable. Joseph M. Tucci served as chairman & CEO of Hopkinton's EMC Corp. until Sept. 2016, when the company was acquired by privately-owned, Texas-based Dell Inc. Robert H. Eder served as chairman & CEO of Providence and Worcester Railroad Co., until Nov. 1, 2016, when it was acquired by Darien, Conn.-based Genesee & Wyoming Inc. FY 2016 proxy statement for Daniel P. McGahn, CEO of AMSC of Devens, was not available by press time. Matthew Boyle, CEO of Sevcon Inc., was not included because the company is headquartered in the U.K., and does not manufacture in Southborough; U.S. operations number 15 employees. 1 Served as president through FY 2016, which ended on Jan. 30, 2016; has been serving as CEO since Jan. 31, 2016, which is FY 2017 for The TJX Cos. Inc. 2 FY 2016 ended Jan. 30, 2016; FY 2017 total compensation was $18,536,866. 3 Change in pension value and non-qualified deferred compensation earnings 4 Served as CEO until Jan. 30, 2016, which is FY 2016 for The TJX Cos., Inc; has been serving as executive chairman through FY 2017, which ran Jan. 31, 2016 - Jan. 28, 2017. 5 FY 2016 ended Jan. 30, 2016; FY 2017 total compensation was $14,502,969. 6 Resignation effective June 14, 2016 7 Assumed position on June 20, 2016 8 FY 2016 ended March 31, 2016; FY 2017 proxy statement was not available at press time. 9 Retired on June 19, 2016 10 Assumed the CEO position in Sept. 2016. 11 Replaced as CEO by Edward Terino in April 2016 12 Announced a significant reduction in force on Feb. 13, to affect an unspecified number of employees. 13 Assumed position on April 6, 2016 14 FY 2016 ended Jan. 31, 2016; FY 2017 total compensation was $2,515,169. 15 Resigned on Feb. 20 16 A portion of the total was converted to dollars from euros and rubles, using the average daily exchange rates of .90 and 67.0 respectively. 17 Time-based restricted stock units (RSU) 18 Effective March 24, the company changed its name to Micron Solutions Inc. , NYSE MKT:MICR; formerly known as Arrhythmia Research Technology Inc., NYSE MKT:HRT. - Compiled by: Stephanie R. Meagher, smeagher@nebusinessmedia.com