UnitedHealth Group announced a new chief executive Tuesday,\u00a0a sudden and surprising change\u00a0following the fatal shooting\u00a0in December of its UnitedHealthcare subsidiary\u2019s leader.<\/p>\n
Andrew Witty stepped down from leading UnitedHealth for unspecified \u201cpersonal reasons,\u201d 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.\u00a0<\/p>\n
UnitedHealth has been the focus of sharp criticism over the health insurance industry\u2019s practices and has seen its stock plummet in the past year. The Justice Department has investigated its business activities.<\/p>\n
UnitedHealth\u2019s 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.<\/p>\n
The company also said that it has suspended its annual outlook for 2025, to include \u2018more types of benefit offerings than seen in the first quarter\u2019 and because \u2018the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare remained higher than expected.\u2019<\/p>\n
\u2018The company expects to return to growth in 2026,\u2019 the statement added.<\/p>\n
In December, United Healthcare CEO Brian Thompson was fatally shot in what police described as a \u201cpremeditated, preplanned targeted attack\u201d in midtown Manhattan as he was walking to an investors\u2019 conference.\u00a0<\/p>\n
Luigi Mangione, now 27, was arrested after a five-day manhunt at a\u00a0McDonald\u2019s in Altoona, Pennsylvania.<\/p>\n
He faces federal and state charges in New York and Pennsylvania in connection with the shooting. He has\u00a0pleaded not guilty\u00a0to the murder and terrorism charges in New York, and not guilty\u00a0to federal stalking and murder charges. If convicted of federal charges, Mangione\u00a0could be sentenced to death.<\/p>\n<\/p>\n
UnitedHealth Group announced a new chief executive Tuesday,\u00a0a sudden and surprising change\u00a0following the fatal shooting\u00a0in December of its UnitedHealthcare subsidiary\u2019s leader. Andrew Witty stepped down from leading UnitedHealth for unspecified \u201cpersonal reasons,\u201d the company said. Stephen J. Hemsley, who served as chief executive from 2006 to 2017, will return to the role and remain board […]<\/p>\n","protected":false},"author":0,"featured_media":17706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17705"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17706"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}