UnitedHealth Group Shares Fall
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UnitedHealth CEO Andrew Witty steps down
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British boss of US healthcare giant UnitedHealth quits for ‘personal reasons’ - The move comes five months after one of the company’s top executives was killed after being shot as he walked to an investor conference in New York.
UnitedHealth Group announced a dramatic shakeup, with former CEO and current chairman Stephen Hemsley stepping back into the top job following the abrupt resignation of Andrew Witty. Witty, who led UnitedHealth since 2021,
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Stephen Hemsley hasn’t been CEO at UnitedHealth Group in nearly a decade yet he’s never really left. Hemsley, 72, has remained chairman and a major shareholder in the health care behemoth — and now is back in the CEO suite and is expected to reinstate his brand of operational and financial discipline that turbocharged the company’s growth.
The executive earlier caused public outrage when he defended the insurance giant’s practice of denying health care claims.
UnitedHealth Group Chairman Stephen Hemsley is returning to helm the health care conglomerate once again. He will replace Andrew Witty effective immediately.
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Andrew Witty is stepping down as CEO of health care giant UnitedHealth Group in a surprise transition that follows a period of unprecedented turbulence, including the public killing of a company executive and financial woes that in recent weeks have only intensified.
UnitedHealth shares fell 22% on April 17, wiping out about $119 billion of market value, after the insurer cut its 2025 forecast.
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UnitedHealth Group CEO Andrew Witty is stepping down from his post for personal reasons and the health care giant says it’s suspending its full-year forecast.