UnitedHealth Group CEO Andrew Witty steps down for 'personal reasons'

Published: Tuesday, May 13, 2025 at 2:46 pm

UnitedHealth Group CEO Andrew Witty Steps Down, Stock Plummets

UnitedHealth Group (UNH), a major player in the healthcare industry, announced Tuesday that CEO Andrew Witty is stepping down, citing "personal reasons." The news sent shockwaves through the market, with the company's stock price plummeting nearly 13% by mid-morning.

Witty's departure is effective immediately, and he will be replaced by Stephen J. Hemsley, who previously served as CEO from 2006 to 2017. Hemsley will also remain chair of the board. The company statement did not provide further details on Witty's reasons for leaving.

Hemsley, who first joined UnitedHealth Group in 1997, is praised for his strategic vision and operational focus. Michele Hooper, the lead independent director, highlighted Hemsley's valuable contributions to the company.

The leadership change comes amidst a challenging period for UnitedHealth Group. The company recently suspended its 2025 outlook, citing higher-than-expected medical costs for Medicare Advantage beneficiaries and increased care activity. Furthermore, a class-action lawsuit was filed last week, alleging the company violated the Securities Exchange Act of 1934 regarding its 2024 outlook.

This news follows the tragic death of former UnitedHealthcare CEO Brian Thompson, who was shot and killed in December 2024. Tim Noel was appointed as the new CEO of UnitedHealthcare in January.

The market's reaction to Witty's departure and the ongoing financial and legal issues underscores the significant impact of this leadership transition on UnitedHealth Group's future.

Keywords: UnitedHealth Group, UNH, Andrew Witty, CEO, Stephen J. Hemsley, leadership change, stock price, healthcare, Medicare Advantage, class action lawsuit, Securities Exchange Act, Brian Thompson, Tim Noel, financial outlook, personal reasons, company news, market impact

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