BURLINGTON — Laboratory Corporation of America Holdings announced Wednesday its chief legal officer and secretary F. Samuel Eberts III will retire and be replaced.

Eberts announced his retirement on Jan. 31, and it will take effect on Feb. 15.

Sandy van der Vaart will be the company’s global general counsel and secretary. Van der Vaart has been with the company for 18 years in various leadership roles in the legal department.

LabCorp is a Burlington-based life sciences company that provides diagnostic, drug development and technology-enabled solutions to process tests on patient specimen and support clinical trials. It employs almost 60,000 people worldwide.

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LabCorp and Eberts are expected to reach a retirement agreement where Eberts will receive $900,000, all his outstanding equity awards vested in full, the earned portion of his 2018 management incentive bonus and continued health care coverage for him and his dependents for 12 months.

The equity awards will be subject to achievement of applicable performance conditions.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism