Humana Chief Financial Officer Kane stepping down

Brian Kane, chief financial officer at Humana, will be transitioning out of the job to pursue "broader career goals," the insurer announced Monday.

Kane will stay in the CFO role through June 1 and will remain in an advisory capacity through the end of the year, Humana said. Susan Diamond, segment president for Humana’s home business, will serve as interim CFO while a permanent replacement is found.

Humana CEO Bruce Broussard said in a statement that Kane served as an "instrumental member of the leadership team" and that he made "invaluable contributions to Humana over the years."

“Among his many contributions, Brian brought rigor to his role and the creation of a strong financial capability—not only through sophisticated fiscal and ongoing operational discipline, but also by developing a deep bench of talent within our finance organization to drive this discipline forward. We wish Brian the very best in his next chapter,” Broussard said.

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A search for a successor is underway, Humana said, and the company is also establishing a new office of the CFO that includes Diamond and other members of the Humana leadership team to ensure the company remains on track financially and in its growth plans.

Kane spent seven years with Humana and, prior to joining the insurer, spent close to 17 years in the investment banking division at Goldman Sachs.

As part of the transition period, Kane will continue to receive his salary,  annual incentive plan opportunity and benefits through the end of the year, Humana said in a filing with the Securities and Exchange Commission.

When he does leave the role, he will earn severance pay and stock incentives he would otherwise secure in a "position elimination," Humana said.

“I’m proud of what Humana has accomplished in a period of rapid transformation. I know that under Bruce’s leadership and with support of the outstanding team across the organization, the Company is well-positioned to continue executing on its strategic plans and delivering shareholder value in the coming years," Kane said in a statement.

"It’s been an honor to serve the members of Humana, and I am grateful to have worked with so many talented colleagues. I am fully committed to a seamless transition in the coming months," he said.