UnitedHealth CEO suddenly steps down for 'personal reasons'

UnitedHealth Group announced a new chief executive officer on Tuesday, a sudden and surprising change that came during the tumultuous aftermath of the fatal shooting in December of its UnitedHealthcare subsidiary's CEO.

The company has been the source of criticism over problems in the insurance industry and has seen its stock value plummet in the past year. The Justice Department has investigated its business practices.

Stephen J. Hemsley was appointed as the new CEO effective immediately after Andrew Witty decided to step down as CEO for unspecified "personal reasons."

Hemsley served as the company CEO from 2006 to 2017, and will remain chairman of the company’s Board of Directors. Meanwhile, Witty will serve as a senior adviser to Hemsley, the company said in a news release.

The company said in a statement that it has suspended its annual outlook for 2025, because it broadened 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."

https://www.nbcnews.com/business/business-news/unitedhealth-group-appoints-new-ceo-suspends-annual-forecast-rcna206445

Personally afraid of investigations?