Elevance Health Announces Management Changes; CFO Mark Kaye to Expand Responsibilities to Include Carelon and Felicia Norwood to Lead Consolidated Health Benefits Organization[...]

Elevance Health Announces Management Changes; CFO Mark Kaye to Expand Responsibilities to Include Carelon and Felicia Norwood to Lead Consolidated Health Benefits Organization

INDIANAPOLIS - February 26, 2026 - Elevance Health, Inc. (NYSE: ELV) today announced management changes designed to simplify decision-making and strengthen execution across Carelon and Health Benefits.

As part of these changes, Mark Kaye, Executive Vice President and Chief Financial Officer, will expand his responsibilities to include oversight of Carelon, the Company's healthcare services operations including pharmacy services, behavioral health, value-based care, and care delivery capabilities. Carelon plays a critical role in advancing the Company's strategy to lower the cost of care. Carelon's operating priorities and client commitments remain unchanged.

Felicia Norwood, Executive Vice President and Chief Health Benefits Officer, will assume responsibility for the Company's consolidated Health Benefits organization, bringing together the Company's major Health Benefits businesses and core operating functions under a single accountable structure. This consolidation enhances coordination across Commercial and Government health benefits and supports a more consistent operating cadence across product, operations, and growth priorities.

Peter D. Haytaian has announced that he will transition from his role as Executive Vice President and President of Carelon effective May 4, 2026, in order to devote more time to family commitments. Haytaian will serve the Company as Special Advisor through December 31, 2026, to support an orderly leadership transition and ensure continuity across Carelon's operations and client and partner relationships.

"Over the last several years, we have continued to evolve how we operate to meet the changing needs of healthcare and deliver for our customers, members, and clients," said Gail Boudreaux, President and Chief Executive Officer of Elevance Health. "These management changes support disciplined execution and help us move with greater clarity and coordination as we continue to scale. I also want to thank Pete for his leadership and his commitment to supporting a smooth transition."

"I look forward to leading the Carelon team as we build on our strong foundation, deliver for clients and partners, and execute with discipline that supports sustainable growth and long-term value," said Kaye.

Norwood added, "Bringing Health Benefits together under a single accountable structure strengthens coordination and execution as we continue delivering for members and customers."

About Elevance Health

Elevance Health is a lifetime, trusted health partner whose purpose is to improve the health of humanity. The company supports consumers, families, and communities across the entire healthcare journey - connecting them to the care, support, and resources they need to lead better lives. Elevance Health's companies serve approximately 104 million consumers through a diverse portfolio of industry-leading medical, pharmacy, behavioral, clinical, home health, and complex care solutions. For more information, please visit www.elevancehealth.com or follow us @ElevanceHealth on X and Elevance Health on LinkedIn.