UnitedHealth Group Names New CEO Following Sudden Leadership Change

On Tuesday, UnitedHealth Group revealed its new CEO, marking a rapid and unexpected shift following the tragic shooting of the leader of its UnitedHealthCare subsidiary last December.

Andrew Witty has resigned from UnitedHealth for reasons that remain unspecified, according to the company’s statement. Stephen J. Hemsley, who previously held the CEO position from 2006 to 2017, is returning to take on that role again, while still serving as chairman of the board. Witty will act as a senior adviser to Hemsley, as mentioned in the official release.

UnitedHealth has faced intense scrutiny over practices within the health insurance sector, resulting in a significant drop in its stock value over the last year. The company has come under investigation by the Department of Justice, which has prompted concern about its business activities.

On Tuesday, UnitedHealth’s stock price fell roughly 15%. The shares, part of the Dow Jones Industrial Average, are now trading at about $321 each, down from a recent high of $630.73 in November.

The company further announced that it would be suspending its annual forecast for 2025, noting that “more benefit products” are expected beyond the first quarter and that “health costs have been higher than anticipated for many Medicare Advantage beneficiaries.”

The company stated, “Growth is anticipated to resume in 2026.”

In December, former CEO Brian Thompson was tragically killed in what police described as a “planned, premeditated attack” while en route to an investor meeting in midtown Manhattan.

Luigi Mangion, now 27, was apprehended after a five-day search at a McDonald’s in Altoona, Pennsylvania.

He faces both federal and state charges in connection with the shooting, having pleaded not guilty to murder and terrorism charges in New York. He has not formally been charged with any federal murder counts. If convicted of the federal charges, Mangion could potentially face the death penalty.