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The UnitedHealth Group shares of the health-care behemoth plummeted more than 10% in morning trade after the company announced the unexpected departure of CEO Andrew Witty and halted its 2025 forecast on Tuesday.
According to the company, Witty is leaving immediately for "personal reasons." His successor, Stephen Hemsley, who joined UnitedHealth Group in 1997 and was CEO from 2006 to 2017, will have him as a senior advisor.
In a statement, Hemsley stated, We are thankful for Andrew's leadership of UnitedHealth Group, particularly during some of the most trying times any firm has ever experienced. Read more...