Humana CFO to step aside in the new year
Susan Diamond is wrapping up an 18-year career at Humana and will serve in an advisory role through the end of 2025.
Humana CFO Susan Diamond will step down from her role in January.
Photo courtesy of Humana
Insurer Humana has announced that current Chief Financial Officer Susan Diamond is stepping down from her role in the new year, to be succeeded by Celeste Mellet, effective January 11.
Diamond is wrapping up an 18-year career at Humana, including over three years as CFO, and will serve in an advisory role through the end of 2025 to ensure a smooth transition, the company said.
Jim Rechtin, Humana's president and chief executive officer, said in a statement that Diamond's contributions helped the company navigate the COVID-19 pandemic, and extended to Medicare, Home Solutions and the company's finance teams.
"We appreciate her willingness to help ensure a smooth transition and are grateful that she has agreed to remain a resource to the company," Rechtim said.
WHAT'S THE IMPACT
The move comes shortly after Humana's Q3 financial results showed $29.4 billion in revenue during the quarter, increasing from $25.4 billion in Q3 2023. For the first three quarters, Humana made about $1.9 billion in profit and $88.5 billion in revenue, as compared to $3 billion and $79 billion, respectively, a year ago.
Diamond said she was grateful for the chance to have helped Humana navigate a challenging period for the industry.
"As I prepare for the next chapter, both personally and professionally, and the company works to establish new forward-looking commitments, it became clear that this is the right time to initiate a CFO transition," she said.
Her successor, Mellet, currently serves as CFO of Global Infrastructure Partners (GIP), a leading infrastructure fund manager recently acquired by BlackRock. Prior to joining GIP, she was CFO, senior managing director and executive vice president of Evercore, responsible for the firm's financial, strategy, tax, information technology and facilities functions.
Before joining Evercore, Mellet was Fannie Mae's executive vice president and CFO responsible for corporate strategy and financial management functions. Preceding her tenure at Fannie Mae, she spent more than 18 years at Morgan Stanley, last serving as global treasurer and previously head of investor, creditor and counterparty relations. She was also previously an equity research analyst covering financial, media, and gaming and lodging.
"I am thrilled for the opportunity to join Humana," said Mellet. "This is a leading company with clearly differentiated capabilities, a strong value proposition and a compelling long-term outlook."
THE LARGER TREND
In late October Humana sued the Centers for Medicare and Medicaid Services over the results of the 2025 Medicare Advantage and Part D Star Ratings.
Only seven plans received 5 stars for Parts C and D performance in the 2025 Medicare Advantage and Part D Star Ratings released by CMS on October 10. This compares to 38 contracts that received 5 stars in 2024.
Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.
