Press Release Details

Quest Diagnostics Names as Directors Kenneth D. Brody, Dan C. Stanzione and Gail R. Wilensky


TETERBORO, NEW JERSEY, JANUARY 9, 1997 -- Quest Diagnostics Incorporated announced today that Kenneth D. Brody, Dan C. Stanzione and Gail R. Wilensky have been elected to serve as directors on its board. The appointments expand the company's board of directors to six members.

"I am delighted and honored that three individuals of such stature will serve on our new board of directors," said Kenneth W. Freeman, chairman and chief executive of Quest Diagnostics Incorporated. Formerly known as Corning Clinical Laboratories, Quest Diagnostics was spun off as an independent company in a tax-free distribution of stock to shareholders of Corning Incorporated on Dec. 31, 1996. Quest Diagnostics shares began trading on the New York Stock Exchange under the symbol "DGX" on a when-issued basis Dec. 17, 1996, and are scheduled to begin regular trading Jan. 14.

Kenneth D. Brody, 53, is the founding partner in Winslow Partners LLC, a Washington, D.C. private investment firm. From 1993 to early 1996, he was the chairman and president of the Export-Import Bank of the U.S., a position to which he was appointed by President Clinton. From 1971 to 1991, Mr. Brody was with Goldman, Sachs & Co., where he was a partner and member of the management committee. He holds an MBA degree from Harvard Business School.

Dan C. Stanzione, 51, is president of both the Network Systems and Bell Laboratories units of Lucent Technologies, the Murray Hill, N.J.-based maker of telecommunications equipment. Mr. Stanzione, who holds a PhD in electrical and computer engineering from Clemson University, began his career in 1972 with Bell Labs, where he led the teams working on the first microprocessors and digital signal processors. He was appointed president of Network Systems, Lucent's largest business unit, in 1996.

Gail R. Wilensky, 53, is a Senior Fellow at Project HOPE, an international health foundation, where she is developing policies for health care reform. Ms. Wilensky, who holds a PhD in economics from the University of Michigan, served as administrator of the Health Care Financing Administration (HCFA) of the U.S. Department of Health and Human Services under the Bush Administration from 1990 -1992. She later advised the Bush White House on health care and welfare issues as Deputy Assistant to the President for Policy Development.

Three other directors who had been elected earlier include: Van C. Campbell, 58, vice-chairman of Corning Incorporated; David A. Duke, 61, retired vice-chairman and former director of research and development of Corning; and Mr. Freeman, 46.

Quest Diagnostics is one of the leading clinical testing laboratories in the country. With 17 regional labs and 14 smaller branch labs across the U.S. and a branch lab in Mexico City, Quest Diagnostics processes and provides data on 60 million requisitions for specimens annually. The wide variety of tests it performs on human tissue and fluids help doctors and hospitals diagnose, treat and monitor diseases and disease states. Quest Diagnostics' research arm, Nichols Institute, specializes in "esoteric testing" using genetic screening and other advanced technologies.