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At Humana this morning we announced I will be stepping down as CEO in the second half of 2024, concluding a lengthy succession planning process our Board began a couple of years ago to identify highly qualified candidates who embody Humana’s values, culture, and commitment to our strategy. To that end, we’re excited that Jim Rechtin will join Humana in January 2024 as President & Chief Operating Officer (COO) and will be President & CEO upon my departure.

This is an important and exciting change for Humana as healthy companies like ours need new thinking and fresh perspective to stay healthy and sustainable. That’s especially true of companies in industries undergoing significant transformation, like healthcare. We expect the next decade will bring considerable industry change as technology matures and evolves the way care is delivered. Since I joined in 2011, we’ve gone through extraordinary change from implementing the Affordable Care Act to growing the company significantly (in membership and in size/value of the company) to navigating a global pandemic to doubling down on a strategy of integrated senior care, leading us to build CenterWell and to exit the employer group commercial medical business.

Because of where we’ve been and what’s ahead, the time is right to be proactive in transitioning the company’s leadership to Jim. Jim is personable, has a strategic mindset, and has considerable experience leading provider and Medicare Advantage organizations, making him the right fit for Humana. Jim is joining us from Envision Healthcare where he serves as CEO and works closely with clinicians in many different care settings. Most impressive is the way Jim has led Envision through challenging times, demonstrating his perseverance, business acumen, and steady leadership. In addition to his time at Envision, Jim has served in key leadership roles at OptumCare and HealthPartners, which allowed him to build expertise in the Medicare Advantage program. While a strategic and systems thinker by nature, Jim honed these skills in his 14-years at Bain & Company, playing a key role in leading its healthcare practice. Jim has a wonderful combination of work experiences and personal attributes to successfully lead Humana over the next decade. My post-Humana plans? While I’ll still be leading the company into next year and will continue to serve as a strategic advisor for a time after stepping down from the CEO role, “retirement” isn’t in the cards for me anytime soon. I hope the investments I’ve made in my health will allow me many more years of being able to serve others through nonprofit and business activities. My wife Janine and I are involved in several nonprofits, and I’d like to be more active in those. I also plan to continue lending my voice, heart, mind, and hands to helping improve the healthcare system for society. Right now, I don’t have my future plans mapped out in detail, which is unusual for me, but exciting.

Change is hard. I must admit, the decision to make this transition wasn’t easy. That’s because of my passion for our team, for our customers, and for making healthcare better, all of which have made my days at Humana so fulfilling. Even so, bringing fresh leadership to the company will only help to accelerate its transformation in the ever-changing world of healthcare. Also, for the past 30+ years I’ve been a public company CEO and CFO so doing something different is very appealing to me. It’s exciting to think about fulfilling my other goals after having had the opportunity of a lifetime of leading this amazing team and company.

The picture above is from my first month at Humana. The smile tells of my joy in being part of the company. Nothing’s changed since then, except I’ve aged which I attribute to time vs. time on the job. I’m looking forward to continuing to lead this great company into 2024 and working with Jim and our management team to serve the millions of people who have entrusted us with their care. A big thanks to my Humana teammates for their hard work, dedication, and commitment and for being one of the greatest teams of all.