UnitedHealth CEO Andrew Witty unexpectedly steps down as insurer suspends financial outlook
UnitedHealth CEO Andrew Witty Resigns, Stephen Hemsley Takes Over
UnitedHealth CEO Andrew Witty has announced his resignation from the company for personal reasons. In response to this, UnitedHealth has appointed Stephen Hemsley as the new CEO. Hemsley previously served as CEO from 2006 to 2017 and brings a wealth of experience to the role.
Additionally, UnitedHealth has decided to suspend its 2025 financial outlook due to higher-than-expected medical costs. This decision follows the company’s first quarterly earnings miss in over a decade, causing concern among investors.
Since the tragic death of former CEO Brian Thompson, who was shot and killed outside a hotel in midtown Manhattan in December, UnitedHealth’s stock has experienced a significant decline. The company’s shares fell nearly 10% to $341.04, reflecting the uncertainty surrounding its leadership and future direction.
In a statement, Witty expressed his gratitude for leading the people of UnitedHealth and their dedication to improving the health system. He acknowledged the honor of serving in this role and expressed confidence in the company’s continued success under new leadership.
This is a developing story, and updates will be provided as new information becomes available.
