Hemsley Says Issues Within 'Capacity To Resolve'
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UnitedHealth, Stephen Hemsley and CEO
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Stephen Hemsley ran UnitedHealth Group for more than a decade. It's a different company after four years with Andrew Witty in charge.
Robyn Denholm has earned five times as much as UnitedHealth Group's Stephen Hemsley, the next non-executive chair most prone to liquidating stock.
UnitedHealth has faced several headwinds in the recent past, ranging from a cyberattack, which had greater than initially realized impacts, to the tragic killing of its CEO, which caused the company to suffer harsh public backlash over the company's and industry practices.
Former CEO and current chairman Stephen Hemsley is stepping back into the top job following the abrupt resignation of Andrew Witty, UnitedHealth said.
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UnitedHealth Group Inc UNH announced Tuesday morning that its CEO, Andrew Witty, will resign for personal reasons.. Stephen Hemsley, who previously held the CEO title from 2006 to 2017, will succeed him. Hemsley will also remain chairman of UnitedHealth's board of directors, and Witty will become senior adviser to the CEO.
Even UnitedHealth will struggle to overcome parasitic medical costs that Warren Buffett once called a tapeworm eating away at U.S. economic competitiveness. The $300 billion healthcare conglomerate reinstalled Chairman Stephen Hemsley as CEO and yanked its financial guidance.
UnitedHealth just made a surprising move, bringing back a familiar face to fix what’s been a rough year.