Dec 16 (Reuters) - Humana said on Tuesday that George Renaudin will step down as president of its insurance segment and named Amazon healthcare executive Aaron Martin as his successor.
Renaudin, who played a pivotal role in establishing and growing the Medicare Advantage and Medicaid programs, will retire next year after a 29-year career at the company, the U.S. health insurer said.
Martin was vice president of healthcare at Amazon, where he oversaw strategic partnerships, marketing and the company's
telehealth and chronic conditions programs.
"Today's announcement marks an important transition for Humana's management team," said Evercore ISI analyst Elizabeth Anderson. "We see the appointment of Aaron Martin as an interesting choice and one that may help Humana in its integrated technology transition."
Humana also reaffirmed its annual adjusted profit forecast of about $17 per share. The company's shares were down about 2% at $260.68 in early trading.
Two analysts said the lack of commentary on 2026 open-enrollment period will cause investor concern.
"The timing of the announcement is likely to drive elevated investor concern. Annual enrollment period ended about a week ago and Humana is not offering a preliminary view on 2026 membership results at this time," said Barclays analyst Andrew Mok.
Humana, one of the largest providers of Medicare Advantage plans for people 65 and older and those with disabilities, has been attempting to contain an industrywide surge in healthcare costs by repricing plans and adjusting benefits.
Martin will join Humana in January as president of Medicare Advantage, a newly created role, and will assume the role of insurance segment president following Renaudin's retirement in the third quarter of next year.
After retiring, Renaudin will serve as a strategic advisor through at least the end of 2026, the company said.
The company also said John Barger will succeed Martin as president of Medicare Advantage.
(Reporting by Sneha S K; Editing by Sriraj Kalluvila)
