Why Humana Stock Is Falling During Wednesday's Session
Portfolio Pulse from Henry Khederian
Humana Inc (HUM) shares fell by 2.7% after the company announced that CEO Bruce Broussard will step down in 2024. Jim Rechtin, a healthcare industry veteran, has been appointed as President and COO, effective January 8, 2024, and will eventually take over as CEO. Broussard will remain as a strategic advisor until 2025.
October 11, 2023 | 5:53 pm
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Humana's stock price fell following the announcement of CEO Bruce Broussard's planned departure in 2024. Jim Rechtin, a healthcare industry veteran, will take over as President and COO in 2024, and later as CEO.
CEO transitions can create uncertainty in the market, which can negatively impact stock prices in the short term. The market's reaction to the announcement of Broussard's departure and Rechtin's appointment reflects this uncertainty.
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