UnitedHealth Group CEO Andrew Witty steps down, replaced by former CEO; company suspends 2025 forecast.

From CNBC: 2025-05-13 10:30:00

UnitedHealth Group CEO Andrew Witty steps down for “personal reasons,” replaced by former CEO Stephen Hemsley. Company suspends 2025 forecast due to higher medical costs, causing shares to drop 10%. Other insurance stocks like CVS Health, Elevance Health, Humana, and Cigna also fall. Witty oversaw tumultuous year with public blowback and cyberattack. UnitedHealth Group slashes profit forecast due to elevated medical costs in Medicare Advantage plans, resulting in first earnings miss since 2008. Former CEO Hemsley returns to lead company’s growth to $400 billion healthcare conglomerate. Company aims to return to growth in 2026.



Read more at CNBC: UnitedHealth Group CEO Andrew Witty steps down