SECAUCUS, N.J., Feb. 23, 2021 /PRNewswire/ -- Quest Diagnostics
Incorporated (NYSE: DGX), the world's leading provider of
diagnostic information services, announced changes in the
leadership of its Board of Directors. Daniel C. Stanzione, Ph.D., 75, has decided to
step down from his role as Lead Independent Director and will not
stand for reelection at the annual meeting of stockholders
scheduled for May 21, 2021. Dr.
Stanzione, President Emeritus of Bell Laboratories, joined the
company's Board in 1997, just as the company's stock became
publicly-traded. He became the company's first Lead
Independent Director in 2003. In 2012, he became
non-executive Chairman of the Board, and served in that role until
January 1, 2017, when he resumed the
role of Lead Independent Director.
Timothy M. Ring, 63, the former
Chairman and Chief Executive Officer of C.R Bard, Inc., will
succeed Dr. Stanzione as Lead Independent Director following the
annual meeting, subject to his reelection. In addition,
Vicky Gregg, 66, the former Chief
Executive Officer of Blue Cross and Blue Shield of Tennessee, who joined the company's Board in
2014, will take Mr. Ring's current role as Chair of the
Compensation Committee, subject to her reelection.
"Dan has been a crucial part of Quest's success, having joined
the board in 1997 when Quest was established as an independent
company," said Steve Rusckowski,
Chairman, Chief Executive Officer and President. "He has been a
strong voice as Lead Independent Director, and his focus on Quest's
foundational values helped set and strengthen an ethical tone at
the top to guide our company's actions. I will miss Dan's wise
counsel and support."
"It has been an honor and privilege for me to serve on Quest's
Board," said Dr. Stanzione. "After 24 years, it's time for a
change. Given the strength of the leadership of the Board and
the company's management team, I am very optimistic about Quest
Diagnostics' future."
Mr. Ring was selected by the company's independent directors as
the company's new Lead Independent Director. He was first
elected to the company's Board in 2011. In connection with becoming
Lead Independent Director, Mr. Ring will also serve as Chair of the
Board's Executive and Governance Committees.
"We are fortunate to have someone with the caliber of Tim's
experience to serve as our Lead Independent Director," said Mr.
Rusckowski. "Since joining our Board, he has provided a
valuable strategic perspective. We look forward to working
with him in his new role."
Additional information about Quest Diagnostics' Board can be
found on the company's website.
About Quest Diagnostics
Quest Diagnostics empowers
people to take action to improve health outcomes. Derived
from the world's largest database of clinical lab results, our
diagnostic insights reveal new avenues to identify and treat
disease, inspire healthy behaviors and improve health care
management. Quest annually serves one in three adult
Americans and half the physicians and hospitals in the United States, and our nearly 50,000
employees understand that, in the right hands and with the right
context, our diagnostic insights can inspire actions that transform
lives. www.QuestDiagnostics.com.
Forward Looking Statements
The statements in this
press release which are not historical facts may be forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date that
they are made and which reflect management's current estimates,
projections, expectations or beliefs and which involve risks and
uncertainties that could cause actual results and outcomes to be
materially different. Risks and uncertainties that may affect the
future results of the company include, but are not limited to,
impacts of the COVID-19 pandemic and measures taken in response,
adverse results from pending or future government investigations,
lawsuits or private actions, the competitive environment, the
complexity of billing, reimbursement and revenue recognition for
clinical laboratory testing, changes in government regulations,
changing relationships with customers, payers, suppliers or
strategic partners and other factors discussed in the company's
most recently filed Annual Report on Form 10-K and in any of the
company's subsequently filed Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K, including those discussed in the
"Business," "Risk Factors," "Cautionary Factors that May Affect
Future Results" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of those
reports.
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SOURCE Quest Diagnostics