May 6, 2006

May 6, 2006 – TUMON, Guam

First Hawaiian Bank and Guam Business have joined forces to launch the First Annual Businesswoman of the Year Maga’haga Award Program. The program is a cooperative effort to provide recognition to businesswomen who have made a difference and “raised the bar” in the field in which they are involved.

The Maga’haga [Chamorro term for princess] Award was given to Katherine Calvo Sgro, executive vice president and chairman of the board for Payless Markets Inc., at the Businesswoman of the Year gala held on Saturday, May 6, 2006, at the Guam Marriott Resort & Spa.

First Lady Joann Camacho opened the envelope naming Sgro as the winner, before a crowded room of nearly 300 people. The Guam Business second quarter issue, featuring Sgro on its cover, was also released at the event. All photos of the nominees were a commissioned photo study, taken by photographer, Ray Calma. Proceeds from the gala totaling $12,500 were presented to the University of Guam to sponsor scholarship programs.

Sgro was chosen among 15 nominees by a panel of judges, including businesswomen and leaders in the community for making a significant difference to business through her work, contribution to the community and displaying the best qualities of a woman in business. In 1987, she became the first female Calvo family member to take an active role in the Calvo family business.

In the last year alone, Sgro organized the Pay-Less Markets Community Foundation, which contributes to Big Brothers Big Sisters of Guam, Island Girl Power, Coalition Against Sexual Assault & Family Violence, among others and was involved in numerous organizations and fundraising events, including the Gentle Refuge Pregnancy Crisis Center, Kamalen Karidat Kitchen and Sugar Plum Tree. She also sits on the board of the Bank of Saipan. All the while, she ran Pay-Less, developed sales strategies and renovated two stores.

Together with First Hawaiian Bank and Guam Business magazine, several sponsors donated gifts for the nominees, including Bonita Baskets, Caronel Inc., Coach, Flowers by Tand, Guam Marriott Resort & Spa, Hilton Guam Resort & Spa, IT&E Overseas Inc., Leila’s Lingerie, Lin’s Jewelry, Lovely Nails, Macy’s Guam, Mandara Spa, Ohana Oceanview Guam, Outrigger Guam Resort, Paul’s Micronesia Mall, Pay-Less Markets Inc., Quality Distributors, Sunny’s Total Image Salon, Bestseller Saipan, Carmen Safeway Enterprises Inc., DFS Saipan, Fiesta Resort & Spa Saipan, Island Best Choice dba Post Chocolate, J.C. Tenorio Enterprises Inc., King’s Jewelry Saipan, Saipan World Resort and Subway Investments Corp. Special thanks go to Continental Airlines for donating two round-trip tickets to Hong Kong for this year’s winner.

For any questions or inquiries, please contact Faye Varias, editor of Guam Business at 671-649-0883 or 671-687-5925, and via e-mail at gb_editor@glimpsesofguam.com.