- Push-out Score determined
- After almost 11 years in the position
- Accolades, praise and thanks for Rusckowski
- Jim Davis taking over
- Rusckowski will remain as Executive Chairman at Quest Diagnostics
- Rusckowski spoke at length and said 165 words
(exechange) — Secaucus, New Jersey, February 3, 2022 — Steve Rusckowski, chief executive of Quest Diagnostics, leaves his post. His departure is made public at an early stage. As announced by Quest Diagnostics Inc. in a news release and in a regulatory filing published on Thursday, February 3, 2022, Stephen H. (Steve) Rusckowski leaves his post as chief executive officer at the provider of diagnostic information services, after almost 11 years in the role, effective November 1, 2022.
Long goodbye
It is a long goodbye. The announcement of Steve Rusckowski’s move comes up to nine months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure particularly early may be considered a lame duck.
Steve Rusckowski’s duties as CEO will be taken over by James E. (Jim) Davis, currently Executive Vice President, General Diagnostics at Quest Diagnostics Inc.
Steve Rusckowski’s move coincides with a management shake-up also involving the position of Chief Financial Officer.
“Part of its ongoing leadership succession planning”
The management change is explained as follows. Quest Diagnostics said: “Quest Diagnostics (NYSE: DGX), the nation’s leading provider of diagnostic information services, today announced that its Board of Directors, as part of its ongoing leadership succession planning, has appointed James E. Davis, Executive Vice President, General Diagnostics, to be its next Chief Executive Officer, effective November 1, 2022. At that time, Mr. Davis will succeed Steve Rusckowski, who will have served as CEO for more than a decade.”
Rusckowski will remain as Executive Chairman at Quest Diagnostics
“Mr. Rusckowski, 64, currently Chairman, CEO and President, will continue to serve on the Quest Board of Directors as Executive Chairman through March 2023,” Quest Diagnostics said.
Share price increase since February 2017
The announcement follows an increase in Quest Diagnostics Inc.’s share price of 47% since February 2017.
In the position of CEO since 2012
Steve Rusckowski became CEO of the Company in 2012.
Rusckowski has been Chief Executive Officer and President of Quest Diagnostics since May 2012 and Chairman of the Board since January 2017.
From November 2006 to May 2012, Rusckowski was the Chief Executive Officer of Philips Healthcare, the largest unit of Royal Philips Electronics, and a member of the Board of Management of Royal Philips Electronics and its Executive Committee.
He joined Philips when it acquired Agilent’s Healthcare Solutions Group in 2001, and was the CEO of Philips Imaging Systems business group before assuming his role as CEO of Philips Healthcare.
Rusckowski served as the Chairman of the American Clinical Laboratory Association from March 2014 to March 2017.
He was a director of Xerox Corporation from 2015 to 2018 and was a director of Covidien plc from December 2013 to January 2015.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Steve Rusckowski’s move on a scale of 0 to 10.
exechange reached out to Quest Diagnostics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 6.2022 ($).