UnitedHealth Group CEO Andrew Witty has stepped down as CEO and the company, citing “personal reasons.”
UnitedHealth swiftly announced the appointment of Stephen J. Hemsley as its new CEO, effective immediately. Hemsley, who served as company CEO from 2006-2017, will remain chairman of the company’s Board of Directors and Witty will serve as a senior adviser to Hemsley.
Additionally, UnitedHealth suspended its 2025 financial outlook because costs of Medicare Advantage “remained higher than expected.”
The health care industry has faced a public reckoning over the cost of insurance and denied claims, whith came to a head with the murder of UnitedHealth Group’s United Healthcare unit CEO Brian Thompson outside a Manhattan hotel this past December.