Labcorp (NYSE: LH) has announced the retirement of its Chief Financial Officer (CFO), Glenn Eisenberg, and the appointment of Julia Wang as the new CFO, effective December 2, 2024. Eisenberg will remain at Labcorp as Special Advisor to the CEO through April 2025 to ensure a seamless transition.
Under Eisenberg's leadership, Labcorp has achieved significant financial milestones. The company's revenues have more than doubled from organic growth and acquisitions, and it has delivered double-digit compound annual total shareholder returns. Additionally, Labcorp has completed approximately 100 acquisitions, investing around $11 billion and returning over $6 billion to shareholders through share repurchases and dividends during Eisenberg's tenure.
Julia Wang, the incoming CFO, brings a wealth of experience in the diagnostic, pharmaceutical/biotech, medical device, and consumer products industries. Most recently, Wang served as CFO of BeiGene and played a pivotal role in driving business transformations, accelerating growth, nurturing innovation, and cultivating sustainable operating efficiencies.
Prior to BeiGene, Wang held leadership positions at Alexion Pharmaceuticals and Quest Diagnostics. She also held senior leadership roles at Johnson & Johnson and led finance initiatives at PepsiCo. Wang holds an MBA from the Fuqua School of Business at Duke University and a BA in British Language and Literature from Shandong Normal University.
Labcorp, with its more than 67,000 employees serving clients in approximately 100 countries, has provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA and performed more than 600 million tests for patients around the world. Following these announcements, the company's shares moved -1.6%, and are now trading at a price of $234.93. For more information, read the company's full 8-K submission here.
