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UnitedHealth, Witty and Stephen Hemsley
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Andrew Witty is stepping down from his position as UnitedHealth's CEO for personal reasons, insurer says in surprise announcement.
UnitedHealth Group CEO Stephen Hemsley, who replaced Andrew Witty, said he has the right strategy in place “for the era ahead.”
As CEO for more than a decade, Stephen Hemsley built up UnitedHealth Group, now a $400 billion healthcare behemoth. With his return to the top job, the company will learn whether his playbook still works.
Former CEO and current chairman Stephen Hemsley is stepping back into the top job following the abrupt resignation of Andrew Witty, UnitedHealth said.
Shares of UnitedHealth Group sank sharply on Tuesday as the health insurance giant replaced its CEO and suspended its 2025 outlook.
UnitedHealth Group said its Chief Executive Andrew Witty resigned as of Tuesday, and the company suspended its annual forecast due to surging medical costs, sending shares plunging nearly 18% to a four-year low.
UnitedHealth Group announced the surprise exit of CEO Andrew Witty on Tuesday and suspended its 2025 forecast due to surging medical costs, sending its shares down more than 10% premarket.
A group of investors this week filed a proposed class-action lawsuit against UnitedHealth Group, alleging that the company withheld information following the murder of UnitedHealthcare CEO Brian Thompson last December.
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