Quest Names Surya Mohapatra New CEO
TETERBORO, N.J. (AP) _ Quest Diagnostics Inc. Monday said it named President and Chief Operating Officer Surya Mohapatra to succeed Kenneth Freeman as chief executive by the next annual meeting in May.
Quest, the country’s largest medical testing company, said Freeman will continue as chairman of the board to ensure a smooth transition.
Mohapatra, who joined the Teterboro-based company as chief operating officer in 1999, has worked closely with Freeman over the last five years to develop the company’s business strategy.
Freeman joined Corning Clinical Laboratories, Quest Diagnostics’ predecessor company, in 1995, and became chief executive of Quest at the end of 1996, when the company was spun off to Corning’s shareholders.
At the end of October, Quest Diagnostics reported third-quarter earnings growth of about 38 percent to $120 million and declared its first-ever quarterly dividend of 15 cents a share.
Shares of Quest shares closed Monday at $66.05, down 30 cents on the New York Stock Exchange.