Release Date: September 5, 2008
BUFFALO, N.Y. -- B. Thomas Golisano, chairman of the board and founder of Paychex Inc. and owner of the Buffalo Sabres, has been named the 2008 Niagara Frontier Executive of the Year by the University at Buffalo School of Management.
The award will be presented at the 59th Annual School of Management Alumni Association awards banquet at 5:30 p.m. on Oct. 28 in the Millennium Airport Hotel, 2040 Walden Avenue, Buffalo.
Golisano was selected by a vote of past honorees and the board of directors of the alumni association, who cited his career success, civic leadership and professional integrity.
"Mr. Golisano is a savvy businessman and a generous philanthropist," said Arjang Assad, dean of the University at Buffalo School of Management. "He has made a significant impact on our community and we are proud to honor him with this award."
Established in 1949, the Niagara Frontier Executive of the Year is presented annually to an area resident or individual whose company has a major impact on the area.
Golisano and Paychex have consistently been recognized by the business, financial and national media. Golisano was listed among the Forbes top-10 bosses in the U.S. for three consecutive years, beginning in 2002; the annual ranking is based on chief executives who provide the best balance between their compensation and shareholder return.
He also appeared in Chief Executive magazine's 10th Annual CEO Growth 100 list in May 2001.
Over the last two decades, Golisano has been recognized by more than 25 colleges, organizations and other entities for his entrepreneurial, civic and philanthropic achievements and endeavors, demonstrating ongoing generosity and commitment to the greater Rochester community, home of Paychex corporate headquarters, and other organizations in Upstate and Western New York.
In 1985, with an initial gift of $90,000, Golisano launched his first philanthropic endeavor by establishing the B. Thomas Golisano Foundation. Today, with assets of $25 million, the foundation awards grants to organizations dedicated to providing opportunities for those with developmental disabilities and offering support to their families. Since then, his philanthropic contributions have totaled approximately $100 million.
Golisano's interest in working to reduce substance abuse and teenage pregnancy at the local level is matched by his concern for the need to seek political reform. To that end he became a founding member of the Independence Party of New York State. As a candidate of that party, he ran for governor of New York in 1994, 1998 and 2002.
A native of Irondequoit, a suburb of Rochester, Golisano is a graduate of the State University of New York at Alfred.
Former Niagara Frontier Executive of the Year recipients include Robert B. Adam, Franz T. Stone, Robert E. Rich Sr., Armand Castellani, Robert E. Rich Jr., Jeremy M. Jacobs, Burt Flickinger Jr., Seymour H. Knox III, Sal H. Alfiero, Robert G. Wilmers, Frank L. Ciminelli, Brian J. Lipke, Robert T. Brady, Frank S. McGuire and Carl J. Montante. Last year's honoree was Louis P. Ciminelli.
For information about the awards banquet, contact John Shellum, assistant dean of alumni relations in the School of Management, at 716-645-3224.
The Wall Street Journal ranks the UB School of Management No. 9 in the nation among schools with strong regional recruiting bases. In addition, BusinessWeek ranks the school as one of the country's top 5 business schools for the fastest return on MBA investment, and Forbes cites it as one of the best business schools in the U.S. for the return on investment it provides MBA graduates. For more information about the UB School of Management, visit http://mgt.buffalo.edu.
The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system that is its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.