Humana Inc. (NYSE: HUM) announced today that, as the next step in the
company’s long-term succession planning process, Bruce D. Broussard has
been named President of the company, effective in December 2011. The
company’s succession plan anticipates that Chairman of the Board and
Chief Executive Officer Mike McCallister will retire as CEO in the next
12 to 18 months and that Broussard would become CEO at that time.
"As part of Humana’s long-term succession planning process, this step
has been under consideration by the Board of Directors for more than a
year,” McCallister said. "Bruce Broussard brings significant CEO
experience in the health industry to Humana along with superb
operational and financial leadership skills. I’m confident he will prove
to be a leader that continues and enhances the success we’ve had over
the past decade.”
Broussard, 49, was Chief Executive Officer of McKesson Specialty Health,
a $9 billion subsidiary of McKesson, Inc., formed from the merger of
McKesson Specialty and US Oncology in December 2010. He was Chairman of
the Board and CEO of US Oncology, Inc., as a stand-alone organization
prior to the McKesson purchase.
He has a wide range of executive leadership experience in publicly
traded and private organizations within a variety of healthcare sectors
including oncology, pharmaceuticals, assisted living/senior housing,
home care, physician practice management, surgical centers and dental
networks.
"As CEO of US Oncology, Bruce worked closely with the Centers for
Medicare and Medicaid Services, which is invaluable given Humana’s
significant Medicare business,” McCallister said. "Throughout his career
– which includes executive-level experience in accounting, finance, and
informatics across many health-related industries – he has shown an
ability to grow businesses profitably and maintain strong relationships
with customers and partners.”
"I’m grateful for the opportunity to join Humana and serve on the
company’s leadership team,” Broussard said. "Humana has an amazing track
record over the past decade as a consumer-focused innovator, and I look
forward to contributing meaningfully to the company’s future growth.”
McCallister, 59, will mark his 12th year as CEO in 2012 and
his 38th as a Humana associate. He was elected Chairman of
the Board in August 2010.
"Mike’s leadership has been extraordinary,” said Kurt Hilzinger, the
lead independent director on Humana’s Board. "During his tenure as CEO,
Humana’s revenues have quadrupled and net income has increased more than
six-fold. The company’s most recent fiscal year was the strongest in its
50-year history as measured by revenues, net income, and health-plan
membership. We are pleased that Mike’s energy, skill, and visionary
thinking will be with the company as CEO during a thoughtful transition
period.”
The company also announced that Chief Operating Officer James E. Murray
is being promoted to Executive Vice President and Chief Operating
Officer. In December he will join McCallister and Broussard in the
Office of the Chairman, which McCallister is creating to guide the
company in key strategic areas and ensure a smooth leadership transition.
"Jim has been an absolutely stellar creator and steward of Humana’s
growth over the past two decades,” McCallister said. "He and Bruce bring
complementary skills and unmatched experience to the Office of the
Chairman. We will work collaboratively on issues of long-term importance
to our stakeholders, including our associates, customers, shareholders,
and the communities we serve.”
Murray, 57, joined Humana in 1989 as Vice President of Finance. He
served in increasingly responsible financial and operational positions
before being appointed Chief Operating Officer in 2006.
"Humana has never been better positioned for continued growth,” Murray
said. "I look forward to working closely with Mike and Bruce on
strategies that will enable us to pursue our dream of helping people
achieve lifelong well-being.”
About Humana
Humana Inc., headquartered in Louisville, Kentucky, is a leading health
care company that offers a wide range of insurance products and health
and wellness services that incorporate an integrated approach to
lifelong well-being. By leveraging the strengths of its core businesses,
Humana believes it can better explore opportunities for existing and
emerging adjacencies in health care that can further enhance wellness
opportunities for the millions of people across the nation with whom the
company has relationships.
More information regarding Humana is available to investors via the
Investor Relations page of the company’s web site at www.humana.com,
including copies of:
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Annual reports to stockholders
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Securities and Exchange Commission filings
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Most recent investor conference presentations
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Quarterly earnings news releases
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Replays of most recent earnings release conference calls
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Calendar of events (including upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors)
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Corporate Governance information
