Health Insurer Humana Ropes In Former UnitedHealth Executive To Assume CEO Role In 2024

Humana Inc (NYSE: HUM) disclosed the appointment of healthcare industry veteran Jim Rechtin as President and Chief Operating Officer, effective January 8, 2024.

The move comes as part of the company's long-planned CEO transition.

Rechtin will report to Bruce Broussard, CEO, until the latter half of 2024. Broussard will then step down, and Rechtin will take the CEO role.

Rechtin has over 22 years of health care experience focusing on delivering value-based care in several medical group settings, including a deep understanding of Medicare Advantage. 

"The board of directors has worked diligently to find the right leader who can take Humana into the next phase of growth and transformation," said Kurt Hilzinger, Chairman of the Humana Board. "Jim brings a strong combination of operational, industry and CEO expertise. His first-hand experience leading through challenges and opportunities of a changing health care services continuum will help accelerate our integrated care strategy at pace."

The company will release Q3 2023 results on November 1, 2023. 

Price Action: HUM shares are trading lower by 2.79% at $486.44 premarket on the last check Wednesday.