Summary
Quest Diagnostics Incorporated (DGX) announced a change to its Board of Directors on March 16, 2020, which was effective March 12, 2020. The Board increased its size from nine to ten directors and elected Wright L. Lassiter, III, President and Chief Executive Officer of Henry Ford Health System, to fill the vacancy. Mr. Lassiter has been deemed an independent director, aligning with NYSE listing standards and the Company's corporate governance principles. This appointment is significant as it brings in a new leader with substantial experience in the healthcare sector to the company's oversight body.
Key Highlights
- 1Quest Diagnostics' Board of Directors size was increased from 9 to 10 members.
- 2Wright L. Lassiter, III was elected as a new director.
- 3Mr. Lassiter's appointment is effective immediately as of March 12, 2020.
- 4Mr. Lassiter is the President and CEO of Henry Ford Health System.
- 5The Board determined Mr. Lassiter to be an independent director.
- 6Mr. Lassiter was appointed to the Board's Quality, Safety and Compliance Committee.
- 7Mr. Lassiter received a one-time grant of restricted share units valued at $31,920 as part of his compensation.
Frequently Asked Questions
Wright L. Lassiter, III is the President and Chief Executive Officer of Henry Ford Health System. He has been elected to the Board of Directors of Quest Diagnostics as an independent director and appointed to the Quality, Safety and Compliance Committee.
The Board of Directors of Quest Diagnostics increased its size from 9 to 10 directors to accommodate the election of the new director, Wright L. Lassiter, III.
Mr. Lassiter will receive compensation as a non-employee director according to the company's standard practices. He also received an initial grant of restricted share units valued at $31,920 upon his appointment.
The designation of Mr. Lassiter as an independent director means he meets the stringent independence requirements set by the New York Stock Exchange and Quest Diagnostics' own corporate governance principles. This is important for maintaining effective oversight and good corporate governance.