Richelle P. Parham
LABCORP HOLDINGSAbout Richelle P. Parham
Independent director at Labcorp (LH) since February 2016; age 57. Chair of the Compensation and Human Capital (CHC) Committee since June 2023; also serves on the Nominating and Corporate Governance Committee. Current operating role: President, Global E‑Commerce and Business Development at Universal Music Group (since June 2021). Education: B.S. in Business Administration and Design Arts, Drexel University. Core credentials: >20 years in global strategy/marketing, consumer insights, corporate finance/M&A; extensive board and C‑suite experience.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| eBay Inc. | Vice President, Chief Marketing Officer | Nov 2010 – Mar 2015 | Led global brand strategy/marketing and CRM to serve 108M+ active users |
| Visa Inc. | Head of Global Marketing Innovation & Initiatives; Head of Global Marketing Services | 2008 – 2010 | Global marketing leadership |
| Digitas, Inc. | Senior leadership including SVP & GM (Chicago) | ~13 years | Senior agency leadership across client strategy and execution |
| Camden Partners | General Partner | Oct 2016 – Oct 2019 | Private equity investing; currently Strategic Advisor |
| WestRiver Group | Managing Director | Oct 2019 – May 2021 | Integrated capital solutions across tech/life sciences/energy/experiential |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Universal Music Group | President, Global E‑Commerce & Business Development | Jun 2021 – Present | Operating role |
| Best Buy Co., Inc. | Director (Public company) | Current | Board service |
| Drexel University | Board of Trustees | Current | Governance/education role |
| Shyn (oral care) | Founder; Executive Chairman of the Board | Since Jan 2018 | Founder/board chair |
| Camden Partners | Strategic Advisor | Current | Advisory role (prior GP) |
| Prior public boards | Scripps Networks Interactive; e.l.f. Beauty | Prior | Former public company directorships |
Board Governance
| Governance Attribute | Detail |
|---|---|
| Independence | Independent (all nominees except the CEO are independent) |
| LH Board Service | Director since February 2016 |
| Committees | Chair, Compensation & Human Capital; Member, Nominating & Corporate Governance |
| Committee Activity | CHC Committee: 4 meetings in 2024; Nominating & Corporate Governance: 4 meetings in 2024 |
| Attendance | Each director attended 100% of Board meetings and no less than 88% of total meetings of Board/Committees of which they were a member (2024) |
| Executive Sessions | Five independent director executive sessions in 2024, chaired by the Lead Independent Director |
| Director Commitments Policy | Board limits non‑employee directors to five public company boards (including LH); all directors currently in compliance |
Fixed Compensation
| Component (2024) | Amount | Notes |
|---|---|---|
| Annual cash retainer | $120,000 | Standard non‑employee director cash retainer |
| Committee chair retainer (CHC Chair) | $20,000 | CHC Chair fee; Audit Chair $25,000; NCG/Quality Chair $20,000 |
| Total fees earned (Ms. Parham) | $140,000 | Reported 2024 cash paid |
| Meeting fees | None | Program is not meeting‑based; retainers reflect ongoing work |
Performance Compensation
| Equity Element | 2024 Grant | Mechanics / Vesting | 2025 Update |
|---|---|---|---|
| Annual RSU grant (directors) | $209,832 (grant date fair value) | Grant on Feb 6, 2024 using $222.28 closing price; RSUs fully vested Feb 6, 2025; aggregate RSUs held at 12/31/24: 944 | Annual director RSU grant value increased to ~$220,000 effective Jan 1, 2025 |
| Performance metrics | Not applicable | Director RSUs are time‑vested; no performance metrics apply to director equity | |
| Clawback policy scope | Robust Incentive Compensation Recoupment Policy maintained by CHC; applies to incentive‑based compensation upon specified events | Policy oversight by CHC |
Other Directorships & Interlocks
| Company | Relationship to LH | Interlock/Conflict Notes |
|---|---|---|
| Best Buy Co., Inc. (current) | Unrelated industry | No LH‑disclosed related party transactions since Jan 1, 2024 |
| Scripps Networks Interactive (prior) | Unrelated industry | Prior service only |
| e.l.f. Beauty (prior) | Unrelated industry | Prior service only |
- Related-party transactions: Audit Committee oversees related party reviews; company reports no related party transactions since Jan 1, 2024. This reduces conflict risk.
- Hedging/pledging: Company prohibits pledging and hedging of company stock, a positive alignment policy.
Expertise & Qualifications
- Deep experience in business strategy, corporate finance/M&A, executive leadership, international markets, risk management, sales/marketing, and talent management; brings consumer and digital commerce expertise to LH.
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (Mar 20, 2025) | 9,478 shares; <1% of outstanding shares |
| Unvested RSUs at 12/31/2024 | 944 RSUs (vested Feb 6, 2025) |
| Director ownership guideline | 5x annual director cash retainer (i.e., 5 × $120,000); 50% post‑vest holding until met |
| Compliance status | All directors are in compliance or meeting holding requirement |
| Pledged/hedged shares | Prohibited by company policy |
Governance Assessment
- Committee leadership signal: As CHC Chair, Parham oversees CEO/NEO pay, director compensation, incentive plan design, clawback policy, and human capital oversight—key levers for alignment and risk control. The CHC uses independent advisor FW Cook and evaluates compensation risk; Board concluded pay practices do not create material risk. Positive for investor confidence.
- Pay-for-performance alignment: Company’s executive program emphasizes adjusted operating income, revenues, adjusted EPS, BLS net orders, and relative TSR; 2024 say‑on‑pay support at ~92% indicates shareholder endorsement, reflecting effective stewardship by CHC.
- Attendance/engagement: 100% Board attendance and strong committee participation across 25 Board/committee meetings in 2024 demonstrate engagement.
- Ownership alignment: Director RSU grants and 5x retainer ownership guideline (with holding requirement) align directors with long‑term performance; anti‑hedging/anti‑pledging policies strengthen alignment.
- Conflicts/related parties: No related party transactions disclosed for 2024; independence affirmed by NYSE standards. No interlocks with LH customers/suppliers are disclosed.
- Responsiveness to investors: CHC considered adding ROIC to LTI after shareholder feedback; retained current metrics based on alignment and market practice—evidence of thoughtful engagement.
Overall, Parham’s CHC leadership, strong attendance, and aligned compensation/ownership policies support board effectiveness and investor confidence, with low apparent conflict risk given the absence of related‑party transactions and strict anti‑pledging/hedging policies.