Changes are afoot at the nation's second largest Medicare managed care company: Humana's chief executive officer, Michael McCallister, is retiring in the next 12 to 18 months. McCallister has been Humana's CEO for 11 years and worked for the insurer for 37 years before that, according to Reuters.
Following in McCallister's stead will be Bruce Broussard, CEO of McKesson Specialty Health, a $9 billion subsidiary of McKesson. He will become Humana's president in December and will take over as the new chief exec when McCallister steps down, reports the Louisville Courier-Journal.
"This step has been under consideration by the Board of Directors for more than a year," McCallister said. "Broussard brings significant CEO experience in the health industry to Humana along with superb operational and financial leadership skills."
The insurer also announced that its chief operating officer James Murray will add executive vice president to his title. "Jim has been an absolutely stellar creator and steward of Humana's growth over the past two decades," McCallister said.
Next month, Murray will join Broussard and McCallister in the new Office of the Chairman, a management team Humana created to guide it through the leadership transition, notes the Courier-Journal. "[James] and Bruce bring complementary skills and unmatched experience to the Office of the Chairman," McCallister said in a statement. "We will work collaboratively on issues of long-term importance to our stakeholders, including our associates, customers, shareholders and the communities we serve."
To learn more:
- read the Reuters article
- see the Louisville Courier-Journal article
- check out the Humama press release
Cigna's 3Q profits dive, but rise for Humana
Humana buys second Medicare Advantage plan to expand business
Humana acquiring HMO Arcadian to boost Medicare enrollment
SPOTLIGHT: Humana CEO backs high-deductible plans