Humana will officially have a new CEO on July 1.
The insurer announced Monday that incoming chief executive Jim Rechtin will assume the role in the summer. Rechtin, who served previously as the CEO of Envision Healthcare, joined Humana in January as president and chief operating officer as part of a planned CEO transition.
Current CEO Bruce Broussard will stay on as a strategic advisor through 2026, though he will resign as a member of the board on July 1, according to the announcement.
Rechtin has spent the past several months working "in close partnership" with Broussard to deep dive into the insurer's operations to drive the future strategic agenda as CEO.
Kurt Hilzinger, chairman of the Humana board, said in the announcement that the board members are "confident" that Rechtin is officially ready to take the CEO role on July 1.
"Since joining Humana, Jim has embedded himself in our business and quickly connected with our employees and customers," Hilzinger said. "He has brought a collaborative, thoughtful and innovative leadership style to our organization, and his extensive healthcare experience brings new insights into Humana’s approach to integrated care."
Rechtin has more than 22 years of experience in healthcare and prior to Envision worked at OptumCare, DaVita and Bain & Company.
“I appreciate the trust and confidence shown to me by the Humana Board, Bruce and the entire leadership team," Rechtin said in the release. "As an enterprise, we have tremendous growth prospects, driven by a differentiated value proposition and attractive market fundamentals."
"I am committed to innovating and improving our operations even further, finding better ways of working and providing equitable access to high quality healthcare while generating long-term shareholder value," Rechtin said.