Humana’s Susan Diamond to step down as CFO in latest management change

(Reuters) -Humana Inc said on Tuesday that Chief Financial Officer Susan Diamond was stepping down and Celeste Mellet would replace her, effective Jan. 11.

The CFO change comes as the health insurer struggles to manage its medical costs related to its large business of Medicare Advantage insurance plans, which led the company to withdraw its 2025 profit forecast in April.

The insurer now forecasts its 2025 adjusted profit to be “at least in line” with this year’s results, which are expected to be at least $16 per share.

Humana (NYSE:) also replaced its CEO earlier this year, with Jim Rechtin taking over from Bruce Broussard, who helmed the health insurer for more than a decade.

Mellet currently serves as CFO of Global Infrastructure Partners, an infrastructure fund manager recently acquired by BlackRock (NYSE:), and has previously worked as CFO for Evercore and Fannie Mae (OTC:).

“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,” Humana CEO Rechtin said in a statement.

Diamond, who is stepping down after 18 years with the health insurer, will serve in an advisory role through the end of 2025 to ensure a smooth transition, Humana said.