UnitedHealth Group CEO Stephen Hemsley, who replaced Andrew Witty, said he has the right strategy in place “for the era ahead.”

Shares of UnitedHealth Group, Inc. (UNH) fell over 17% on Tuesday after the health insurance giant said CEO Andrew Witty would step down for personal reasons, with chairman and former chief executive Stephen Hemsley taking his place.

Shares of UnitedHealth Group sank sharply on Tuesday as the health insurance giant replaced its CEO and suspended its 2025 outlook.

UnitedHealth Group, the largest health insurer in the United States, announced on Tuesday the immediate resignation of chief executive Andrew Witty, who will be succeeded by chairman Stephen Hemsley in a surprise leadership reshuffle that underscores the deepening turbulence facing the healthcare behemoth.

UnitedHealth Group Chairman Stephen Hemsley is returning to helm the health care conglomerate once again. He will replace Andrew Witty effective immediately. UnitedHealth Group named Tim Noel the ...