Humana Wednesday announced a succession plan for CEO Bruce Broussard, who will retire in 2024, the … [+]
Humana announced a succession plan for long-time chief executive officer Bruce Broussard who will retire next year and be replaced by Jim Rechtin, the top executive of Envision Healthcare medical group.
Rechtin, who is 52 years old, will first join Humana as chief operating officer, reporting to the 61-year-old Broussard, effective Jan. 8, 2024 “as part of a long-planned CEO transition,” Humana said in a statement Wednesday. “He will report to Bruce Broussard, CEO, until the latter half of 2024 at which time Broussard will step down and Rechtin will assume the CEO role.”
Broussard has grown Humana into one of the nation’s largest provider of privatized Medicare benefits, selling Medicare Advantage plans to millions of seniors. Humana has also grown into a provider of healthcare services largely through acquisitions engineered under Broussard, who joined Humana in 2011 and became CEO in 2013.
“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.”
Rechtin has more than two decades of healthcare experience “with a focus on the delivery of value-based care in various medical group settings, including a deep understanding of Medicare Advantage,” Humana said. “Before joining Envision, Rechtin served as President of OptumCare, part of UnitedHealth Group.”
Broussard said Rechtin will bring “a collaborative, thoughtful and innovative leadership style” to Humana.
“Additionally, Jim has worked closely with clinicians in many different care settings,” Broussard said. “That experience will help support our growing clinical footprint and continuing evolution as a health care company and the important work we do in driving health outcomes for our customers.”