The Power 50: Valentin Gapontsev
VALENTIN P. GAPONTSEV, Ph.D.
Chairman & CEO
IPG Photonics Corp., Oxford
Colleges: Lvov Polytechnic Institute, Moscow Institute of Physics and Technology
Gapontsev founded IPG Photonics in 1990 and has since created more than 1,500 jobs in Worcester County, and hundreds more could be on the way, as the company is eyeing expansion projects at its Oxford headquarters and Marlborough location. Globally, the company employs more than 5,500 people and finished 2017 with a company record $1.4 billion in revenue. According to Forbes, Gapontsev is one of the wealthiest manufacturers in the country with a net worth of $3 billion. In March, the company was added to the S&P 500 Index, moving from the S&P MidCap 400. The company sponsors internships and other programs at regional high schools to help grow the local manufacturing workforce and funds local food banks and provides equipment to the Oxford police and fire departments.
What advice would you give up-and-comers? I have always followed the principles of freedom, independence and self-determination, driving me to develop high-power fiber laser technology and then invest in our vertical integration strategy, both of which ran against conventional wisdom at the time.
Angler: I love to fish.
Read about the WBJ’s 2018 Power Players:
Retail
Harry Kokkinis, Table Talk Pies
Steve Rotman, Rotman’s Furniture & Vystar
Ernie Herrman, TJX Cos.
Michael Dundas, Sira Naturals
Ralph Crowley Jr., Polar Corp.
Christopher Baldwin, BJ’s Wholesale Club
Amy Lynn Chase, Crompton Collective & Haberdash
Food & Culture
Robb & Madeline Ahlquist, Worcester Restaurant Group
Troy Siebels, The Hanover Theatre
Karim El-Gamal, Rail Trail Flatbread Co., New City Microcreamery, Less Than Greater Than
Eric, Sam & Jack Hendler, Jack’s Abby Brewing
Lynn Cheney, Lettuce Be Local
Sandy Dunn, DCU Center
Higher Education & Nonprofits
Ann T. Lisi, Greater Worcester Community Foundation
Rev. Philip L. Boroughs, College of the Holy Cross
Javier Cevallos, Framingham State University
Michael F. Collins, University of Massachusetts Medical School
Jill Dagilis, Worcester Community Action Council
Dr. David A. Jordan, Seven Hills Foundation
Laurie Leshin, Worcester Polytechnic Institute
Corner Office
Kate Sharry, Group Benefits Strategies
Tina M. Sbrega, GFA Federal Credit Union
John C. Roche, The Hanover Insurance Group
Elaine Osgood, Atlas Travel
Michael P. Angelini, Bowdtich & Dewey
Susan Mailman, Coghlin Electrical Contractors
Edward F. Manzi Jr., Fidelity Bank
Manufacturing
Dinesh Wadhwani, ThinkLite
Ravi Vig, Allegro Microsystems
Nobuhiko Tamura, Sunovion Pharmaceuticals
Daniel McGahn, AMSC
Michael Mahoney, Boston Scientific
Jeannie Hebert, Blackstone Valley Chamber of Commerce
Valentin Gapontsev, IPG Photonics
Chris Coghlin, Coghlin Cos.
Health care
Kevin O’Sullivan, Massachusetts Biomedical Initiatives
Kurt Isaacson, Spectrum Health Systems
Tarek Elsawy, Reliant Medical Group
Jeffrey M. Welch, Saint Vincent Hospital
Eric Dickson, UMass Memorial Health Care
Holly Chaffee, VNA Care
Richard P. Burke, Fallon Health
Economic Development
Ann K. Tripp, Opus Investment Management
Robert Walker, RA Ventures
Yvonne Spicer, City of Framingham
Cliff Rucker, Worcester Railers Hockey Club
Sherri Greene Pitcher, Fidelity Bank
Timothy P. Murray, Worcester Regional Chamber of Commerce
Anthony Consigli, Consigli Construction Co.
Jennie Lee Colosi, E. T. & L. Corp.
WBJ Web Partners
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