UnitedHealth Group CEO Andrew Witty Resigns, Suspends 2025 Outlook; Stock Down In Pre-Market

(RTTNews) - UnitedHealth Group Inc. (UNH), Tuesday announced that its Chief Executive Officer Andrew Witty has decided to step down from the position due to personal reasons.

Following this, the healthcare company has appointed Stephen Hemsley as its new CEO, effective immediately. He was the company's Board chair in 2017.

Additionally, the company announced its decision to suspend its 2025 outlook, citing higher than expected medical expenditures.

However, the company expects to return to growth in 2026.

In the pre-market hours, UnitedHealth's stock is trading at $347.41, down 8.38 percent on the New York Stock Exchange.