Quest's Corporate Governance, ESG Goals, and Ethical Practices for 2023 and Beyond
For more than 56 years, Quest has been a leader in diagnostic information services, utilizing over 70 billion data points derived from anonymized patient results. Our success is grounded in strong corporate governance.
The Board of Directors and Executive Leadership Team maintain high ethical standards and integrity, extending these values to our supply chain. The Board also oversees our Environmental, Social, and Governance (ESG) initiatives and other critical priorities by implementing accountability structures, reinforcing leadership commitment, and ensuring exceptional care for our patients.
Governance and Ethics
2025/2026 Goals
The Board of Directors and Executive Leadership Team maintain high ethical standards and integrity, extending these values to our supply chain. The Board also oversees our Environmental, Social, and Governance (ESG) initiatives and other critical priorities by implementing accountability structures, reinforcing leadership commitment, and ensuring exceptional care for our patients.
Governance and Ethics
2025/2026 Goals
- Expand ESG risk assessments for key suppliers who account for the majority of our total spending.
- Increase spending with small and diverse U.S. suppliers to $500 million by 2026.
2023 Achievements
- More than 53% of suppliers, based on annual spend, completed their ESG assessments.
- $343 million was spent on goods and services from small and diverse U.S. businesses.
Governance
Quest’s governance structure ensures ethical practices across all operations. The Executive Leadership Team develops and enforces policies that emphasize transparency and purposeful practices. The Board of Directors supervises the leadership team and receives quarterly updates on strategic goals, including ESG efforts.
Board of Directors The Board provides expertise that ensures the highest standards for our stakeholders. Notable highlights include:
Quest’s governance structure ensures ethical practices across all operations. The Executive Leadership Team develops and enforces policies that emphasize transparency and purposeful practices. The Board of Directors supervises the leadership team and receives quarterly updates on strategic goals, including ESG efforts.
Board of Directors The Board provides expertise that ensures the highest standards for our stakeholders. Notable highlights include:
- 50% of members are women or from diverse racial/ethnic backgrounds.
- Nine members are independent.
Board Committees The Board uses six specialized committees to guide various aspects of our operations:
- Audit & Finance: Ensures financial integrity, compliance, audits, and enterprise risk management.
- Compensation & Leadership Development: Oversees executive compensation, succession planning, and talent development.
- Cybersecurity: Manages cybersecurity policies, data security, and legal compliance.
- Executive: Handles critical decisions outside full Board sessions, excluding major corporate actions.
- Governance: Recommends Board nominations, monitors ESG efforts, and ensures strong governance practices.
- Quality & Compliance: Reviews compliance programs, medical quality, and significant investigations.
Full committee charters are available in our 2024 Proxy Statement.
Corporate Responsibility Governance
The ESG Council, made up of cross-functional leaders, aligns ESG initiatives with the company's goals. Quarterly meetings ensure the integration of ESG efforts and keep the Board informed. In 2023, we established internal committees to enhance governance over our annual reporting and environmental disclosures. We also expanded third-party verification of our Scope 3 greenhouse gas emissions data, increasing the transparency of our environmental reporting.
Ethics and Compliance
Our Code of Ethics outlines the principles guiding our employees, executives, vendors, and partners. CEO Jim Davis emphasizes the importance of compliance in his note introducing the Code. Employees are encouraged to report concerns through supervisors, compliance staff, or our anonymous CHEQline system. All reports are thoroughly investigated.
Annual training fosters a culture of compliance, with new hires completing training within 30 days of onboarding. In 2023, over 95% of employees completed their compliance training.
Enterprise Risk Management (ERM)
Quest’s ERM program promotes risk awareness across all business functions. Overseen by the Board and led by the executive team, the program integrates risk management into governance, performance, and internal controls. Continuous assessments help identify, evaluate, and address risks that may impact business strategy and performance.
Click here to know more.
Corporate Responsibility Governance
The ESG Council, made up of cross-functional leaders, aligns ESG initiatives with the company's goals. Quarterly meetings ensure the integration of ESG efforts and keep the Board informed. In 2023, we established internal committees to enhance governance over our annual reporting and environmental disclosures. We also expanded third-party verification of our Scope 3 greenhouse gas emissions data, increasing the transparency of our environmental reporting.
Ethics and Compliance
Our Code of Ethics outlines the principles guiding our employees, executives, vendors, and partners. CEO Jim Davis emphasizes the importance of compliance in his note introducing the Code. Employees are encouraged to report concerns through supervisors, compliance staff, or our anonymous CHEQline system. All reports are thoroughly investigated.
Annual training fosters a culture of compliance, with new hires completing training within 30 days of onboarding. In 2023, over 95% of employees completed their compliance training.
Enterprise Risk Management (ERM)
Quest’s ERM program promotes risk awareness across all business functions. Overseen by the Board and led by the executive team, the program integrates risk management into governance, performance, and internal controls. Continuous assessments help identify, evaluate, and address risks that may impact business strategy and performance.
Click here to know more.
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