November 22, 2017

TJX CEOs lead Central Mass. top 10 highest-paid executives

File photo
TJX companies, headquartered in Framingham.

Two top executives at TJX were the highest paid in Central Massachusetts in fiscal 2016, with the retailer's CEO and executive chairman each earning around $20 million.

CEO Ernie Herrman and Executive Chairman, and former CEO Carol Meyrowitz, were far and away the area's highest paid executives for public companies for the 2016 reporting year. They earned more than half of their money in stock awards, with other revenue coming from option awards and other benefits in addition to a basic salary.

Meyrowitz stepped down as TJX's CEO in early 2016 and was replaced by Herrman, who was previously president. (Meyrowitz made $14,502,969 and Herrman $18,536,866 in fiscal 2017. TJX's fiscal year roughly corresponds to the previous calendar year.)

TJX, which has its headquarters in Framingham and Marlborough, claimed five of the area's 10 highest-paid.

Four executives making eight figures last year led the area's highest-paid list, as compiled by the Worcester Business Journal research department. Here are the top 10 for fiscal 2016, ranked by total compensation. For the full list, see WBJ's Data Center.

1. Ernie Herrman, CEO, TJX, $20,180,755

2. Carol Meyrowitz, executive chairman, TJX, $19,559,697

3. Michael Mahoney, CEO, president and chairman, Boston Scientific, $12,026,183

4. Ronald Sargent, CEO and chairman, Staples, $10,664,052

5. Christopher O'Connell, president and CEO, Waters Corp., $7,631,015

6. Joseph Zubretsky, president and CEO, The Hanover Insurance Group, $7,598,515

7. Arthur Caputo, president, Waters Corp., $7,471,094

8. Michael MacMillan, senior executive vice president and group president, TJX, $7,037,105

9. Richard Sherr, senior executive vice president and group president, TJX, $6,356,694

10. Scott Goldenberg, senior executive vice president and CFO, TJX, $4,635,207

Editors note: This story was updated to emphasize the reporting period for the executives' pay. Companies' fiscal reporting periods differ.

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