Humana Inc. (HUM, Financial), a leading health and well-being company, has announced a strategic expansion of its Board of Directors. Effective October 23, 2024, the board has increased its number of authorized directors from eleven to twelve, welcoming Gordon Smith as its newest member. This move is part of Humana's ongoing efforts to strengthen its leadership and governance.
The Board of Directors has confirmed that Mr. Smith meets the New York Stock Exchange's standards for director independence, ensuring that he brings an unbiased perspective to the board. Furthermore, there are no material transactions between Mr. Smith and Humana Inc., reinforcing his independent status.
In line with Humana's standard compensation policies for board members, Mr. Smith will receive compensation that includes restricted stock units (RSUs) as part of the company's director compensation program. While Mr. Smith has not yet been appointed to any specific board committees, his expertise and insights are expected to contribute significantly to Humana's strategic direction.
This appointment underscores Humana's commitment to enhancing its board with experienced and independent directors, aiming to drive long-term value for its shareholders and stakeholders. The company officially announced Mr. Smith's election through a press release on October 23, 2024.
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