STAT+: UnitedHealth stock tumbles as CEO resigns, 2025 outlook pulled
UnitedHealth CEO Andrew Witty stepped down and the company suspended its 2025 outlook.
UnitedHealth Group CEO Andrew Witty abruptly stepped down from the health insurance and care conglomerate on Tuesday, citing personal reasons, capping the end of a tumultuous four-year tenure that included the killing of the company’s top insurance executive.
UnitedHealth named its board chair and former chief executive, Stephen Hemsley, as the company’s new leader. Hemsley — who was UnitedHealth’s CEO from 2006 to 2017 and is one of the most powerful people at the company — will remain the company’s chair.
UnitedHealth also announced it was suspending its 2025 profit outlook, saying “care activity continued to accelerate” and that “the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected.”
