: Humana CEO Broussard to step down next year after 11 years in the role, and stock slips

Shares of Humana Inc. HUM slipped 0.5% in premarket trading Wednesday, after the health insurer said Chief Executive Bruce Broussard will step down from the role in the “latter half” of 2024, after about 11 years in the role. The company said it named Jim Rechtin as chief operator officer, effective Jan. 8, 2024, as part of a “long-planned CEO transition.” Rechtin is currently the CEO of Envision Healthcare. “Jim brings a strong combination of operational, industry and CEO expertise,” said Humana Chairman Kurt Hilzinger. “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.” Humana stock has lost 2.3% year to date through Tuesday, while the Health Care Select Sector ETF XLV has declined 3.5% and the S&P 500 SPX has advanced 13.5%.

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