Proxy Blog

Quest Diagnostics Incorporated 

April 24, 2020

The annual proxy for this clinical laboratory company had the following proposals: 

  • Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 

Magni voted as follows: 

For and against the proforma proposals.

  • For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity. though no ownership guidelines were disclosed.
  • For auditors – There appear to be no controversies with the financial statements of the company.
  • Against say-on-pay” – A vague set of criteria along with a listed peer group, where there was no benchmarking of the company against the peer group, is not sufficient.