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LabCorp Announces Changes To Board Of Directors

Stocks in this article: LH

Laboratory Corporation of America ® Holdings (LabCorp ®) (NYSE: LH) today announced that Drs. Arthur H. Rubenstein and M. Keith Weikel will retire from the Board at the conclusion of their current term on May 14, 2014 pursuant to the Board’s mandatory retirement policy and Wendy E. Lane has also informed the Board of Directors of her decision to retire from the Board at that time. The Company also announced that D. Gary Gilliland, M.D., Ph.D. has been appointed to its Board of Directors, effective April 1, 2014.

Drs. Rubenstein and Weikel will retire from the Board pursuant to the Company’s mandatory retirement policy which provides that when a director reaches the age of 75 he or she shall not be eligible to stand for re-election at the next regularly scheduled annual shareholder meeting. In addition, Ms. Lane has informed the Board that she has decided not to stand for re-election to the Board of Directors to pursue other professional interests, including other board opportunities.

Dr. Rubenstein has served as a Director of LabCorp since 2004, serving as Chair of the Quality and Compliance Committee since 2008. Dr. Weikel has served as a Director of LabCorp since 2003 and as Chair of the Compensation Committee since 2008. Ms. Lane has served as Director of LabCorp since 1996, serving on the Compensation, Audit and Nominating and Corporate Governance Committees. She served as the Chair of the Audit Committee from 2003 to 2008.

“Arthur, Keith and Wendy have been exceptional Board members and have made tremendous contributions to LabCorp during their years of service,” said David P. King, Chairman and Chief Executive Officer. “Each has served with distinction, both as a Board member and as Chair of an important Board Committee. On behalf of the Board and LabCorp, I wish to express our gratitude for their invaluable leadership and years of dedicated service to the Company. At the same time we are committed to Board renewal and succession planning, and these changes reflect that ongoing process.”

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