As a part of its $1 billion value creation initiative, Humana said during its July 27 second-quarter earnings call that the company will restructure into two separate units and reorganize the executives leading them.
Eight things to know:
- Starting in 2023, the company will split into two units: insurance services and CenterWell. Insurance services will consist of all the businesses currently within the retail and group and specialty segments. CenterWell will consist of the current healthcare service segment.
- The company is now searching for a president of insurance and enterprise services and expects to announce a name by the end of this year. The ideal candidate will lead enterprise strategies across the company's businesses drawing on previous experience with running a complex organization. The ideal individual will also help the company continue to simplify its structure.
- Human's retail segment president, Alan Wheatley, will step down by the end of this year after 31 years with the company. He will serve as a strategic adviser during that time.
- George Renaudin, senior vice president of Medicare markets, has been named president of Medicare, effective Aug. 5.
- Susan Smith, senior vice president of clinical solutions, will expand her role and lead enterprise services, including clinical and consumer experience, and stars and Medicare risk adjustment.
- John Barger will continue as president of Medicaid.
- Sue Schick will continue to lead the group and specialty segment business.
- Mr. Renaudin, Ms. Smith, Mr. Barger and Ms. Schick will all report to the new insurance president.