- After almost 11 years in the position
- Praise for Broussard
- Jim Rechtin taking over
- Broussard said 98 words
(exechange) — Louisville, Kentucky, October 11, 2023 — Bruce Broussard, chief executive of Humana, is set to leave his position. As announced by Humana Inc. in a news release and in a regulatory filing published on Wednesday, October 11, 2023, Bruce D. Broussard will leave his post as chief executive officer at the health insurer and health care services company, after almost 11 years in the role, effective in the second half of 2024.
Bruce Broussard’s duties as CEO will be taken over by James A. (Jim) Rechtin, currently President and CEO at Envision Healthcare.
The fact that Bruce Broussard’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Part of a long-planned CEO transition”
The planned management change is explained as follows. Humana stated: “Humana Inc. (NYSE: HUM) announced today it has named health care industry veteran Jim Rechtin as President and Chief Operating Officer of Humana Inc., effective January 8, 2024, as part of a long-planned CEO transition. 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.”
Precise information regarding Bruce Broussard’s future plans was not immediately available.
Share price increase since October 2018
The announcement follows an increase in Humana Inc.’s share price of 48% since October 2018.
In the position of CEO since 2013
Bruce Broussard became CEO of the Company in 2013.
Bruce D. Broussard, President and CEO, joined Humana in 2011.
Prior to joining Humana, Broussard was Chief Executive Officer of McKesson Specialty/US Oncology, Inc. US Oncology was purchased by McKesson in December 2010.
At US Oncology, Bruce served in a number of senior executive roles, including Chief Financial Officer, President, Chief Executive Officer and Chairman of the Board.
Broussard plays a leadership role in key business advocacy organizations such as the Business Roundtable, the Business Council, and the American Heart Association CEO Roundtable.
He is a member of the Board of Directors of HP Inc. and is a member and previous chair of America’s Health Insurance Plans (AHIP).
Additionally, Broussard serves on the Board of the Trust for the National Mall, a nonprofit philanthropic partner of the National Park Service dedicated to restoring and preserving the National Mall.
98 words by Bruce Broussard
In the release announcing his planned departure as CEO of Humana Inc., Bruce Broussard received praise.
In announcing his departure, Bruce Broussard said 98 words.
Bruce Broussard stated: “Leading this company and team of employees is an incredible honor. As we work to make this a seamless transition in the coming months, I look forward to partnering with Jim. He brings a collaborative, thoughtful and innovative leadership style to our organization, making him a natural fit for the culture of today and the future. Additionally, Jim has worked closely with clinicians in many different care settings. 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.”
Push-out Score for Bruce Broussard’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that Bruce Broussard was pushed out or felt pressure to leave his position.
exechange reached out to Humana and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 42.2023 ($).