SECAUCUS, N.J. - Quest Diagnostics (NYSE: NYSE:DGX), a prominent player in the diagnostic information services field, has expanded its Board of Directors with the appointment of Robert B. Carter, currently the Executive Vice President and Chief Information Officer at FedEx Corporation (NYSE:FDX). Carter's (NYSE:CRI) election brings the board's membership to 10.
Carter, 64, has a distinguished tenure at FedEx, where he has been instrumental in guiding the company's technological initiatives. His responsibilities have encompassed overseeing the applications, infrastructure, and networks essential for FedEx's global operations. Carter's role at FedEx also includes positions as Co-President and Co-CEO of FedEx Services. He is set to retire from his executive roles in June, continuing as an advisor until December 2024.
Jim Davis, the Chairman, CEO, and President of Quest Diagnostics, expressed confidence in Carter's abilities, emphasizing the value of his extensive experience in technology, particularly in cloud computing and cybersecurity. Davis anticipates that Carter's expertise will be instrumental as Quest Diagnostics further integrates IT and generative AI to enhance business growth.
Timothy M. Ring, Lead Independent Director at Quest, also praised Carter's track record as a technology leader and his previous contributions to public and private boards. Carter's appointment is seen as a strategic move to strengthen the company's technological capabilities.
In addition to his new role at Quest Diagnostics, Carter holds a position on the Board of Directors at New York Life and is a trustee at the University of Memphis. His past board experiences include First Horizon (NYSE:FHN) Corporation and Saks, Inc. He holds a bachelor's degree from the University of Florida and a master's degree from the University of South Florida.
InvestingPro Insights
As Quest Diagnostics (NYSE: DGX) welcomes Robert B. Carter to its Board of Directors, the company's financial health and market performance remain critical for investors and stakeholders. Quest has demonstrated a commitment to shareholder value, as indicated by two notable InvestingPro Tips: the management's aggressive share buyback strategy and a track record of raising its dividend for 12 consecutive years. Share buybacks can often signal a company's belief in its own undervalued shares, while consistent dividend increases are a sign of financial health and a commitment to returning value to shareholders.
Turning to real-time data from InvestingPro, Quest Diagnostics is currently trading near its 52-week high, showcasing investor confidence in the company's market position. Additionally, the company has maintained dividend payments for an impressive 21 consecutive years, further cementing its reputation for consistent shareholder returns. Despite analyst concerns, as some have revised their earnings downwards for the upcoming period, Quest's history of profitability, including over the last twelve months, suggests a stable financial base as it integrates new technological advancements into its operations.
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