Andrew Witty has abruptly stepped down as CEO of UnitedHealth Group, the country’s largest healthcare provider, citing unspecified “personal reasons,” according to the company. His resignation follows a disappointing financial report that caused the firm’s stock to plummet by 22% in a single day—its sharpest decline in recent history. The news of Witty’s exit only added to investor anxiety, sending shares tumbling another 10% during pre-market trading.
In an unexpected leadership shift, Stephen Hemsley—former CEO and current chairman of the board—will reassume the chief executive position. Hemsley previously led the company from 2006 to 2017 and was instrumental in its rise through strategic acquisitions and rapid growth. He will retain his role as board chairman while resuming daily executive duties.
Recently, UnitedHealth has been under intense public and media scrutiny. In a high-profile incident last December, executive Brian Thompson was fatally shot on a street in New York City. The shell casings recovered from the scene were etched with the words “deny,” “defend,” and “depose”—phrases commonly associated with insurance claim denials. Instead of evoking widespread sympathy, the tragedy sparked a wave of backlash on social media, with much of the outrage aimed directly at Thompson and the company itself.