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Laboratory Corp. Of America Holdings - Shareholder/Analyst Call

Stocks in this article: LH

Now I'd like to acknowledge our senior officers present today: Jay Boyle, Executive Vice President and Chief Operating Officer; Brad Hayes, Executive Vice President and Chief Financial Officer; Mark Brecher, Senior Vice President and Chief Medical Officer; Sam Eberts, Senior Vice President and Chief Legal Officer; Lidia Fonseca, Senior Vice President, Chief Information Officer; Lisa Hoffman Starr, Senior Vice President, Human Resources; Sandra Van Der Vaart, Senior Vice President and General Counsel; Eric Lindblom, Senior Vice President, Esoteric Businesses; Brad Morton, Senior Vice President, Billing; Pete Hughley, Senior Vice President, Center for Esoteric Testing; Karen McFadden, Senior Vice President, Managed Care.

Again, we have a terrific group of senior officers and leaders of the company. And as the President and CEO, I am very appreciative of all the support that I receive from them. Also in the audience, Jessica Good, Katie Campbell and Joshua Adams of PricewaterhouseCoopers, the independent accountants of the company. Ms. Good, Ms. Campbell and Mr. Adams will be available to answer appropriate questions during the general question-and-answer period at the end of the meeting.

The Board of Directors set March 5, 2012 as the date of record for the Shareholder's Meeting. We have here a record of shareholders as of that date. A duplicate record has been on file at the office of the company for the last 10 days available for inspection by any shareholder at any time during usual business hours. I have been advised by the inspector of election that immediately prior to commencement of the meeting, at least 86% of the companies issued and outstanding shares are represented by a proxy at today's meeting. Since the majority of the company shares is represented here today, a quorum is present, and the business of the meeting may proceed.

I'd like to ask that any shareholder making a motion or who second the motion, please state your name, so that our record of meeting will be complete. The secretary has informed me that the notice for the meeting was duly and properly mailed. The secretary will file affidavits of mailing with a notice of meeting a proxy card and proxy statement with all records of the meeting. There are 5 items on the agenda to be voted on today: one, the election of directors; two, the nonbinding advisory vote to approve executive compensation; three, the approval of the 2012 Omnibus Incentive Plan; four, the amendment to the 1997 employee stock purchase plan; and five, the ratification of the appointment of PricewaterhouseCoopers LLP as Laboratory Corp. of America Holdings' independent accountants for the year ended December 31, 2012.

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