Humana's chief financial officer Susan Diamond will step down in January, the insurer announced Tuesday.
Diamond will exit the role after three years and a total of 18 across different positions at Humana, according to the announcement. She will shift into an advisory position that she will hold through the end of 2025 "to ensure a smooth transition," Humana said.
"Susan’s contributions spanned across our Medicare, Home Solutions and finance teams and she was instrumental in helping navigate complex environments including COVID-19 and dynamic utilization trends," CEO Jim Rechtin said in the press release. "On a personal note, I’m grateful for her partnership as I transitioned into the CEO role.
"We appreciate her willingness to help ensure a smooth transition and are grateful that she has agreed to remain a resource to the company," Rechtin added.
Celeste Mellet will succeed Diamond. Mellet is currently the CFO of Global Infrastructure Partners, an infrastructure fund manager that has been acquired by BlackRock. She previously held the CFO title at Evercore and Fannie Mae, according to the announcement.
Mellet also spent more than 18 years at Morgan Stanley, Humana said.
“Celeste is a highly accomplished CFO and brings first-hand experience navigating dynamic and highly regulated industries," Rechtin said. "She has a proven track record of working with cross-functional teams to drive improved performance throughout the complex organizations where she has served as a leader."
"I am excited to partner with Celeste as we execute against our strategy, unlock the earnings power of the business, and deliver long-term shareholder value," he said.
Diamond said in the press release that as the company pushes into its next chapter, it "became clear that this is the right time to initiate a CFO transition."
"It is important to have a leadership team that will be in place for the next several years to deliver against those commitments, and I look forward to helping set the team up for success," she said.
Alongside the CFO transition news, Humana reaffirmed its 2024 guidance, confirming it expects earnings per share of at least $16. It also echoed prior commentary that it anticipates 2025 results in line with 2024 performance. The company expects to host an investor day in May 2025.