Humana AB (STO:HUM) (NYSE: HUM), a health and well-being company, announced on Tuesday that it has appointed Dr William Shrank as its new chief medical officer, effective 1 April 2019.

The company said Shrank will also serve as a member of the Humana management team

Shrank succeeds Roy A. Beveridge, who last year announced that he would retire from Humana in the course of 2019. To ensure a smooth transition, Dr Beveridge will remain with Humana for several months after Dr Shrank joins the firm.

In his new role as chief medical officer, Dr Shrank will play an important leadership role in implementing the company's integrated care delivery strategy. This strategy emphasises a consumer-friendly, evidence-based, technology-enabled approach to personalised health improvement for the company's over 16 million Humana health plan members. He will report to Humana president and CEO Bruce D. Broussard.

Most recently, Shrank was with the University of Pittsburgh Medical Centre (UPMC), where he served since 2016 as chief medical officer, Insurance Services division. Prior to that, from 2013 to 2016, Shrank was senior vice president, chief scientific officer and chief medical officer of Provider Innovation at CVS Health. Before that, from 2011 to 2013, he served as director, Research and Rapid-Cycle Evaluation Group, for the Centre for Medicare and Medicaid Innovation, part of the Centres for Medicare and Medicaid Services (CMS).

Dr Shrank began his career as a practising physician with Brigham and Women's Hospital in Boston and an assistant professor at Harvard Medical School.