UnitedHealth Group CEO Andrew Steps Down Suddenly; New CEO Appointed

UnitedHealth Group named a new CEO on Tuesday, following a tumultuous year that saw the CEO of its UnitedHealthcare subsidiary fatally shot in Manhattan.

The company's stock value has fallen over the past year, and it has been criticized for issues in the insurance sector.

The CEO position was immediately filled by Stephen J. Hemsley after Andrew Witty resigned for "personal reasons."

Hemsley will remain chairman of the company's board of directors and served as its CEO from 2006 to 2017. According to a press release from the company, Witty will be Hemsley's senior adviser in the interim. 

The company said in a statement that it has suspended its annual outlook for 2025 because "the medical costs of many Medicare Advantage beneficiaries new to UnitedHealthcare have remained higher than expected."

"The company expects to return to growth in 2026," the statement continued.

Brian Thompson, CEO of United Healthcare, was fatally shot in midtown Manhattan in December 2024 in what police described as a "premeditated, preplanned targeted attack" while walking to an investors' conference.

Luigi Mangione, now 27, was arrested after a five-day manhunt and faces federal and state charges in New York and Pennsylvania in connection with the shooting. He has pleaded not guilty to murder and terrorism charges in New York, as well as federal stalking and murder charges.