Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Quest Diagnostics Launches Management Restructuring - Quick Facts

RELATED NEWS
Trade DGX now with 

Quest Diagnostics Incorporated (DGX: Quote), provider of diagnostic testing, information and services, launched a major management restructuring. The company will eliminate existing business structures and replace them with two new business groups, Diagnostic Information Services and Diagnostic Solutions. The changes are scheduled to take effect by January 1. The company expects it will be able to eliminate three management layers, or approximately 400 to 600 management positions, by the end of 2013, thereby contributing about $65 million in savings to the previously announced cost reduction goal of $500 million associated with its Invigorate program.

The Diagnostic Information Services group, which will include the vast majority of the company's revenues, will replace the current Physician Services, Hospital Services and Cancer Diagnostics businesses. It will develop and deliver diagnostic testing, information and services, and be responsible for new test development; sales and marketing; routine and esoteric laboratories; and field operations.

The company also appointed senior leaders to head its new Commercial, Operations and Human Resources functions. Everett V. Cunningham will join the company October 15 to become Senior Vice President, Commercial. Cunningham was most recently Regional President, Established Products, Asia for Pfizer, Inc. John B. Haydon will join October 22 to become Senior Vice President, Operations. Mr. Haydon is currently Executive Vice-President and Global Head of Operations and Business Excellence for Philips Electronics. Jeffrey S. Shuman will join October 22 as Senior Vice President, Chief Human Resources Officer. Mr. Shuman was most recently Senior Vice President: Chief Human Resources and Administrative Officer for Harris Corp.

Quest also announced that several senior leaders will be leaving the company. Richard Mahoney, Vice President, Healthcare Information Services; Joan Miller, Senior Vice President, Oncology and Neurology Services; and David Norgard, Vice President, Human Resources, plan to leave the company by year-end. Joseph Benage, Vice President, Insurer & Employer Services, will leave in 2013.

Register
To receive FREE breaking news email alerts for Quest Diagnostics and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.