FILE - In this Thursday, Nov. 1, 2012 file photograph, after Superstorm Sandy, PSE&G employee Percy Thompson III unloads new electrical transformers in a staging area at the Quaker Bridge Mall in Lawrence Township, N.J. New Jersey's largest utility company is proposing to spend $3.9 billion to protect its electric and gas system against future storms like Sandy. PSE&G says it wants to strengthen distribution lines, protect utility stations from storm surges and make the electrical grid easier to repair. (AP Photo/Mel Evans, File)
-
FILE - In this Thursday, Nov. 1, 2012 file photograph, after Superstorm Sandy, PSE&G employee Percy Thompson III unloads new electrical transformers in a staging area at the Quaker Bridge Mall in Lawrence Township, N.J. New Jersey's largest utility company is proposing to spend $3.9 billion to protect its electric and gas system against future storms like Sandy. PSE&G says it wants to strengthen distribution lines, protect utility stations from storm surges and make the electrical grid easier to repair. (AP Photo/Mel Evans, File)
-
Governor Chris Christie and Sea Girt Mayor Ken Farrell look over progress on the Sea Girt N.J. boardwalk Wednesday Feb. 6, 2013. (AP Photo/The Asbury Park Press, PaeterAckerman) NO SALES
-
FILE - In this Monday, Dec. 10, 2012, file photo, workers sort packages at a FedEx sorting facility in Kansas City, Mo. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Charlie Riedel, File)
-
FILE - In this Monday, Dec. 10, 2012, file photo, workers sort packages at a FedEx sorting facility in Kansas City, Mo. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Charlie Riedel)
-
FILE - In this Tuesday, Dec. 11, 2012 file photo, FedEx workers unload packages from a cargo plane at the Oakland Regional Sort Facility in Oakland, Calif. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Ben Margot, File)
-
In this Aug. 28, 2012 photo, 5-year-old Dane Michael Valenti of Hasbrouck Heights N.J. rides a wave into shore on a surfboard in Belmar, N.J. New Jersey's Top Ten beaches contest is suspending voting this summer on the best beach in the state, focusing instead on cooperation among regional tourism leaders to promote the shore as a whole as it recovers from Superstorm Sandy. (AP Photo/Wayne Parry)
-
Beachgoers on the sands of Seaside Heights N.J. on June 8, 2012. New Jersey's Top Ten beaches contest is suspending voting this summer on the best beach in the state, focusing instead on cooperation among regional tourism leaders to promote the shore as a whole as it recovers from the storm. (AP Photo/Wayne Parry)
-
Bathers play in the surf in Seaside Park, N.J. on June 23, 2012. New Jersey's Top Ten beaches contest is suspending voting this summer on the best beach in the state, focusing instead on cooperation among regional tourism leaders to promote the shore as a whole as it recovers from Superstorm Sandy. In the background is the Funtown Pier in Seaside Heights, N.J. that was damaged in the storm. (AP Photo/Wayne Parry)
-
New Jersey Gov. Chris Christie, left, listens as U.S. Housing and Urban Development Secretary Shaun Donovan tells a gathering Thursday, Feb. 7, 2013, in Sea Bright, N.J., that he will wear his Sea Bright shirt back in Washington. The two discussed the plans for government assistance with Superstorm Sandy recovery and rebuilding efforts. Meanwhile, Democrats in the New Jersey Assembly are looking to impose some accounting controls on Superstorm Sandy aid before any money is spent. New Jersey received word of a $1.8 billion allocation this week. It plans to use its first installment of aid to provide rebuilding grants to homeowners and businesses and for an aggressive Jersey Shore marketing campaign. (AP Photo/Mel Evans)
-
New Jersey Gov. Chris Christie, center and U.S. Housing and Urban Development Secretary Shaun Donovan, right, listen to Pat Bain, back to camera, in their Bain's Hardware store, Thursday, Feb. 7, 2013, in Sea Bright, N.J., as she describe Superstrom Sandy's devastation on the store. The Bain's said that they got back up and running as fast as possible to help others rebuild. The tape on the column at left, marks the flood waters height in the store. (AP Photo/Mel Evans)
Quest chief financial officer plans to leave
MADISON, N.J. (
AP) — Quest Diagnostics Chief Financial Officer Robert Hagemann will leave the company in May after 21 years.
The medical lab said Hagemann, who also serves as senior vice president, will stay through May 31, unless his successor is named and the transition takes place before then. Hagemann will help chose his successor.
Hagemann said in a statement that after almost 15 years as CFO, he and the company agreed that "now is a good time for a change."
Quest posted a 71 percent decline in earnings for the fourth quarter, which was effected by Superstorm Sandy.
The Madison, N.J., company also gave a 2013 earnings and revenue forecast that fell below Wall Street expectations.
Quest shares have slipped 4 percent so far in 2013, after closing Wednesday at $55.99.
Tags:
ap, george washington, superstorm sandy, madison, science_technology, quarter, wednesday, senior vice president, vice president, management occupations, place, percent decline, n.j., chief financial officer, earnings, new jersey, transition, successor, wall street expectations, company, revenue forecast, good time, heraldry, cfo, quest, madison, new jersey, hagemann, officer robert hagemann, quest diagnostics chief, financial officer plans, quest chief, quest shares, medical lab
Print Page
