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Bruce Broussard, CEO of health insurance giant Humana, will step down next year after leading the company for more than a decade.

Humana named Jim Rechtin — who is the CEO of Envision Healthcare, the controversial physician staffing firm that is working its way through bankruptcy — as Broussard’s replacement. Rechtin will serve as president and chief operating officer starting Jan. 8 and then take over as CEO in the “latter half of 2024,” the company said in a news release.

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Humana’s stock fell by more than 2% on the news Wednesday morning.

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