new york
CNN
–
Andrew Witty, the CEO of UnitedHealth Group, has stepped down from his position, effective immediately, citing “personal reasons,” as the company shared on Tuesday.
His successor will be Stephen Hemsley, who is the chairman and previously served as CEO from 2006 to 2017. Witty led the company for four years and will now take on a modest role as a Senior Advisor to Hemsley.
Hemsley expressed gratitude for Witty’s leadership during “some of the most challenging times” the company has faced, while also noting that he values Witty’s compassion as a leader and wishes the best for him and his family.
Last year, Witty guided the company following the tragic murder of UnitedHealthcare CEO Brian Thompson. UnitedHealthcare operates under the UnitedHealth Group umbrella.
The shocking incident stirred significant public outrage regarding the health insurance sector. Recent discussions have pointed out that the U.S. healthcare system is “not perfect,” revealing complexities that aren’t always clear.
Witty also stood up for UnitedHealthcare, admitting some accountability for the misunderstandings surrounding care decisions.
In addition, UnitedHealth Group announced on the same day that it has temporarily suspended its financial outlook for the year due to unexpectedly high costs associated with Medicare Advantage. The company anticipates a return to growth in 2026.
Recently, Witty described the company’s overall performance as “unusual and unacceptable,” a comment that coincided with a significant drop in stock prices—over 20%, marking the largest single-day decline in nearly three decades.
On Tuesday, stocks dipped nearly 11% during pre-market trading.
