Random News/Current Events

www.nbcnews.com

UnitedHealth CEO suddenly steps down for 'personal reasons'

Stephen J. Hemsley returned as CEO after Andrew Witty's surprising decision to leave the insurance giant. UnitedHealth's stock fell 17% on Tuesday.
www.nbcnews.com www.nbcnews.com

Andrew Witty stepped down from leading UnitedHealth for unspecified “personal reasons,” the company said. Stephen J. Hemsley, who served as chief executive from 2006 to 2017, will return to the role and remain board chairman. Witty will serve as a senior adviser to Hemsley, the company said in a news release.

UnitedHealth has been the focus of sharp criticism over the health insurance industry's practices and has seen its stock plummet in the past year. The Justice Department has investigated its business activities.
Click to expand...


UnitedHealth's shares fell more than 17% Tuesday. The stock, which is part of the 30-company Dow Jones Industrial Average, closed at $311.38 a share, well off its recent high of $630.73 in November.

The company also said that it has suspended its annual outlook for 2025, to include "more types of benefit offerings than seen in the first quarter" and because "the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected."

"The company expects to return to growth in 2026," the statement added.
Click to expand...









 
You must log in or register to reply here.
Back
Top