Fortrea Welcomes Erin L. Russell to Board of Directors

Fortrea, a leading global contract research organization (CRO), is thrilled to announce the addition of Erin L. Russell to its Board of Directors. Russell brings a wealth of experience in finance and healthcare, making her an invaluable asset to the company's long-term strategic goals and investment philosophy.

As a principal of Vestar Capital Partners, L.P., a leading private equity firm, for 16 years, Russell honed her financial expertise, developing a deep understanding of financial management, strategic planning, and investment decisions. This experience will be invaluable to Fortrea as it continues to optimize its financial strategies, improve operational efficiency, and enhance shareholder value.

Russell's extensive healthcare industry knowledge, gained through her service on the boards of several healthcare companies, will also be a significant asset to Fortrea. Her experience in the healthcare sector provides valuable insights into market trends, regulatory environments, and competitive landscapes, helping Fortrea navigate the complex healthcare industry and make informed strategic decisions.

As an independent member of the board, Russell will bring a fresh perspective and challenge the status quo, fostering a culture of continuous improvement. Her diverse background and unique views can help Fortrea make better decisions and avoid groupthink.

The appointment of Russell is part of a cooperation agreement between Fortrea and Starboard Value LP, an investment firm that owns approximately 5.4% of Fortrea's outstanding common stock. Starboard's engagement and input have helped Fortrea improve its financial performance and maximize value for all shareholders. Russell's appointment suggests that Starboard and Fortrea share a common vision for the company's future.

In conclusion, Fortrea's addition of Erin L. Russell to its Board of Directors aligns with the company's long-term strategic goals and investment philosophy. Her financial expertise, healthcare industry knowledge, diverse perspectives, alignment with Starboard's goals, and long-term focus make her an excellent fit for the company's ongoing efforts to improve its performance, accountability, and shareholder value.