OAN Staff James Meyers
10:31 AM – Tuesday, May 13, 2025
UnitedHealth Group Inc. CEO Andrew Witty is stepping down from his role, effective immediately, citing “personal reasons” — according to a company announcement that was made on Tuesday.
The decision unfolds amid a period of intensifying turmoil for the healthcare conglomerate, highlighted by the recent shooting of Brian Thompson, CEO of UnitedHealthcare, the insurance subsidiary of UnitedHealth.
Nonetheless, former CEO and current chairman Stephen Hemsley will reportedly be taking back the role. Witty led the company since 2021.
Meanwhile, the abrupt resignation comes as investors have been feeling the full force of the news turmoil — after the company had nearly $190 billion in market value wiped out. Furthermore, UnitedHealth shares have plummeted over 35% since the start of this year, and a staggering 22% drop just in a single day in April.
“The company has tremendous opportunities to grow as we continue to help improve health care and to perform to our potential,” said Hemsley in a statement.
“In so doing, we aim to return to our long-term growth objective of 13 to 16 percent.”
During Hemsley’s time as CEO, from 2006 to 2017, UnitedHealth switched from an insurer into a massive $400 billion healthcare conglomerate, while implementing data services, pharmacy benefit management, and physician groups.
Witty stepping down also comes as the company has faced massive hits, including a cyberattack that obliterated its tech department, multiple Department of Justice (DOJ) investigations and the assassination of Thompson by purported killer Luigi Mangione, 27.
Currently, the 27-year-old Mangione faces the death penalty by the DOJ after being indicted on federal charges — in connection to Thompson’s slaying.
The company also announced that it will be suspending its revised 2025 earnings outlook, which was issued in April, noting unexpectedly “high medical costs” for new Medicare enrollees.
In a move to alleviate investor fears during the April earnings call, Witty blamed the federal reimbursement changes and he promised operational changes. However, the stock market responded negatively — prompting shares to have a one-day historic freefall in April.
Since the freefall, the stock has lost another 17%, which is around $70 billion in lost value.
“Hemsley brings a combination of strategic vision and deep operational focus that are highly valuable to our company,” said Michele Hooper, lead independent director on UnitedHealth’s board.
“We’re confident in his ability to guide the company through this period.”
According to surfacing reports, Witty will now be a senior adviser during his transition period.
In addition, UnitedHealth Group is now facing a shareholder lawsuit, with shareholders accusing the company of hiding the financial consequences of consumer backlash following Thompson’s murder.
The lawsuit, which was filed in a Manhattan court, claims that UnitedHealth misled investors about the direction of the company.
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