Andrew Witty has stepped down as CEO of UnitedHealth, just weeks after the company slashed its annual outlook and missed earnings expectations for the first time since the 2008 financial crisis—a big blow during his time in charge.
The surprise announcement came Tuesday, with UnitedHealth confirming that Stephen J. Hemsley, who previously led the company from 2006 to 2017, is stepping back in as CEO. Witty will stay on as a senior advisor for now, according to a statement shared by NBC News.
This leadership shake-up follows the tragic death of former UnitedHealth exec Brian Thompson, who was fatally shot outside a New York hotel last December.
Alongside the CEO’s resignation, UnitedHealth also pulled its annual forecast due to rising medical costs. That news sent the company’s stock tumbling 18%, hitting a four-year low, according to Reuters.
UnitedHealth said Witty left for “personal reasons,” without giving any more detail. His exit adds to a string of challenges the company has faced lately, including criticism of the health insurance industry’s practices and an ongoing investigation by the U.S. Justice Department.
Still, the company says it expects to bounce back and return to growth in 2026.
Update on Brian Thompson’s Case
Luigi Mangione, who was arrested five days after Thompson’s killing, is trying to get the state murder charges thrown out. He’s facing both federal and state charges in New York and Pennsylvania.
His legal team also wants terrorism charges dropped and is pushing to block prosecutors from using evidence collected during his arrest, including a 9mm handgun, ammo, and a notebook where he allegedly wrote about plans to “whack” an insurance executive.
