Quest's Corporate Governance, ESG Goals, and Ethics Commitment


12/25/2024


For over 56 years, Quest has been a leading provider of diagnostic information services, processing more than 70 billion de-identified patient data points. Our success is underpinned by strong corporate governance. The guidance of our Board of Directors and Executive Leadership ensures we uphold high standards of ethics and integrity, particularly in our supply chain.

The Board oversees our Environmental, Social, and Governance (ESG) efforts and business priorities, creating accountability, affirming leadership commitment, and ensuring we provide top-tier care to our patients.

Governance and Ethics
2025/2026 Goals
Expand ESG risk assessments of key suppliers, covering the majority of our total spend. Increase our spend with small and diverse suppliers in the US to $500 million by 2026.
2023 Achievements
More than 53% of suppliers by annual spend completed their ESG assessments. Quest purchased $343 million in goods and services from small and diverse US businesses.
Governance
Quest’s corporate governance framework ensures we operate with integrity across all aspects of our business. Our executive team implements policies that promote ethical, transparent, and purposeful practices, with the Board of Directors overseeing their progress. The Board receives quarterly updates on the company's objectives, including ESG goals.

Board of Directors
The diverse expertise of our Board helps us meet the expectations of our customers, employees, shareholders, and stakeholders. Key facts about our Board include:
50% of members are women or represent diverse races/ethnicities. 9 members are independent.
Learn more about our Board and their experience.
Board Committees
The Board regularly reviews our business through six committees:
Audit & Finance: Oversees the quality of financial statements, compliance, and enterprise risk management. Compensation & Leadership Development: Reviews CEO performance and executive compensation, as well as succession planning and talent management. Cybersecurity: Oversees cybersecurity policies, programs, and risks, ensuring compliance with legal and regulatory requirements. Executive: Acts on behalf of the Board on most matters except major corporate decisions. Governance: Recommends Board nominees, oversees ESG matters, and ensures good corporate governance practices. Quality & Compliance: Monitors compliance with legal and regulatory requirements, as well as medical quality assurance programs.
Full committee charters can be found in our 2024 Proxy Statement.

Corporate Responsibility Governance
Our ESG Council, consisting of cross-functional leaders, meets quarterly to align ESG initiatives with business priorities and to provide insights into emerging topics. The Council also guides our disclosure strategy and keeps the Board updated on ESG progress. In 2023, we enhanced our reporting process, including third-party verification of Scope 3 greenhouse gas emissions, to ensure the credibility of our environmental reporting.

Ethics and Compliance
Our Code of Ethics reinforces our commitment to integrity, setting standards for employees, directors, executives, vendors, contractors, and business partners. Employees are encouraged to report concerns through various channels, including an anonymous hotline, which are then investigated. We conduct annual compliance training for all employees, with over 95% completing it in 2023.

Enterprise Risk Management
Quest’s Enterprise Risk Management (ERM) program promotes a culture of risk awareness throughout our operations. Overseen by the Board of Directors and led by our executive team, the ERM program integrates into our governance and performance management systems. It includes a continuous risk assessment process to identify, evaluate, and manage risks that could impact our strategy and performance.

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