Gail Boudreaux
President and Chief Executive Officer
Executive
7 yr
8 reports
Elevance Health, Inc. ·ELV
Carelon operates as a parallel services platform to Health Benefits
Healthcare · Fortune #20 · Divisional structure · 101K employees · Indianapolis, IN
8
CEO span
near peer avg (8)
1
Avg span
tight
2
Max depth
flat for 101K emp
5.6 yr
Avg tenure
38%
Internal hires
↓ below industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$199.1B
Operating income
$7.2B
Net income
$5.7B
Total assets
$121.5B
Shares out
221M
Sourced from Elevance Health, Inc. DEF 14A · filed 2026-03-27 ↗ View on SEC
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Elevance Health, Inc. organizational chart
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Carelon operates as a parallel services platform reporting directly to the CEO, distinct from Health Benefits. This page maps Elevance Health’s divisional leadership, executive team, recent changes, compensation, and governance, with analysis and peer comparison.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Peter Haytaian departed as EVP and President, Carelon
Announced transition from President of Carelon effective May 4, 2026; will serve as Special Advisor through Dec 31, 2026.
Source · See change logScenario views in the chart
- Add Chief AI Officer Introduce a Chief AI Officer reporting to the CEO to consolidate AI governance across Health Benefits and Carelon.
- Spin out Carelon Remove Carelon as a direct report to the CEO, preparing it for a partial or full separation.
Atlas work this supports
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The people
Who's running this
9 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
Mark Kaye
Executive Vice President and Chief Financial Officer
Finance
3 yr
0 reports
Felicia Norwood
Executive Vice President and Chief Health Benefits Officer
Health Benefits
6 yr
0 reports
internal
Morgan Kendrick
Executive Vice President and President, Commercial and Specialty Health Benefits
Commercial & Specialty
5 yr
0 reports
Peter Haytaian
Executive Vice President and President, Carelon and CarelonRx
Carelon
4 yr
0 reports
John Gallina
Executive Vice President and Chief Legal Officer
Legal
8 yr
0 reports
Gloria McCarthy
Executive Vice President and Chief Human Resources Officer
Human Resources
7 yr
0 reports
Ashok Chennuru
Executive Vice President and Chief Digital and Information Officer
Technology
6 yr
0 reports
internal
Kathleen S. Kiefer
Chief Governance Officer and Corporate Secretary
Governance
5 yr
0 reports
The pay
Executive compensation
From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.
Gail Boudreaux $22.6M
- Base salary
- $1.60M
- Stock awards
- $13.44M
- Option awards
- $4.20M
- Non-equity incentive
- $2.77M
- Other
- $574K
- Fiscal year
- FY2025
- Source
- SEC DEF 14A ↗
The businesses
How Elevance Health, Inc. divides the work
3 divisions report into the group CEO. Tile size scales with estimated headcount.
Health Benefits
60K employees
Chief Health Benefits Officer (Felicia Norwood)
Core insurance operations spanning commercial, Medicare, Medicaid and specialty plans.
Carelon
30K employees
President, Carelon (Peter Haytaian)
Health services platform providing pharmacy, behavioral, and value-based care services.
Finance
4K employees
Chief Financial Officer (Mark Kaye)
Manages capital, financial reporting, investor relations and enterprise finance.
The thesis
Why this org is unusual
Carelon stands out as a parallel services platform reporting directly to the CEO rather than being embedded within the Health Benefits organization.
Elevance Health’s structure reflects a deliberate separation between regulated insurance operations and scalable health services. This allows Carelon to pursue external growth while Health Benefits leaders focus on medical cost management and regulatory performance. The CEO maintains a broad span of control across insurance, services, finance, technology, and governance, reinforcing centralized strategic oversight.
- Carelon president reports directly to CEO
- No Chief Operating Officer role
- Technology elevated to EVP level
The comparison
How Elevance Health, Inc. stacks up
Compared with other large managed-care organizations, Elevance Health places unusually high strategic weight on its services arm. UnitedHealth Group similarly elevates Optum, but many peers integrate services more tightly into insurance units. Elevance’s absence of a COO contrasts with some peers that rely on …
C-suite size
Reporting depth
Elevance Health, Inc.
2 levels
4 levels
5 levels
4 levels
4 levels
Avg C-suite tenure
Has COO / Has CAIO
Elevance Health, Inc. — no COO — no CAIO
Current signals
What changed recently
The most consequential recent change is the planned transition of Carelon President Peter Haytaian in May 2026.
- departedPeter Haytaian EVP and President, Carelon
Announced transition from President of Carelon effective May 4, 2026; will serve as Special Advisor through Dec 31, 2026.
Source - Date not confirmed newAmy W. Schulman Independent Director
Elected to Board effective Jan 12, 2026 and appointed to Audit and Finance Committees.
Source
Leadership Timeline
Year-over-year executive structure based on SEC proxy and annual filings.
FY2025
DEF 14A filed 2026-03-27
- CEO
- Gail Boudreaux
- CEO span
- 5
- C-suite
- 5
- Avg tenure
- 5.4 yr
Carelon represented a growing share of leadership focus and compensation.
Named executive officers (5)
- Gail Boudreaux - President and CEO since 2017
- Mark Kaye - EVP and CFO since 2023
- Peter Haytaian - EVP and President, Carelon since 2022
- Felicia Norwood - EVP and Chief Health Benefits Officer since 2019
- Morgan Kendrick - EVP and President, Commercial Health Benefits since 2020
Frequently Asked Questions
Who is the CEO of Elevance Health?
Gail Boudreaux has served as President and CEO since 2017.
What type of organizational structure does Elevance Health use?
Elevance Health uses a divisional structure separating Health Benefits from its Carelon services platform.
How many direct reports does Elevance Health's CEO have?
The CEO has eight direct executive reports.
How has Elevance Health's leadership changed recently?
In 2026, Carelon President Peter Haytaian announced his transition, and a new independent director joined the board.
Who reports directly to Elevance Health's CEO?
Direct reports include the CFO, Chief Health Benefits Officer, presidents of Carelon and Commercial Health Benefits, and functional EVPs.
Sources
- 8-K Filing, Feb 26, 2026
- 8-K Filing, Dec 10, 2025
- SEC EDGAR: Elevance Health, Inc. DEF 14A Proxy Statement
- SEC EDGAR: Elevance Health, Inc. 10-K Annual Report
Reference
Cite this page
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APA 7th
Creately. (2026). Elevance Health, Inc. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/elevance-health/MLA 9th
"Elevance Health, Inc. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/elevance-health/. Accessed .Chicago 17
Creately. "Elevance Health, Inc. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/elevance-health/.Original SEC source View on SEC ↗
Elevance Health, Inc.. DEF 14A. Filed 2026-03-27. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1156039/000115603926000031/elv-20260326.htmPermanent URL: https://creately.com/org-chart/fortune-500/elevance-health/ · last updated 2026-04-01