In April, President Donald Trump nominated Erica Schwartz, MD, to serve as CDC director. On June 16, she outlined steps to cut ties with her employer, UnitedHealth Group.
As recently as May 2025, Dr. Schwartz served as UnitedHealthcare’s president of insurance solutions. At the time of this article’s publication, UnitedHealth did not confirm her current title.
Dr. Schwartz will end her employment at UnitedHealth, once confirmed. Upon her termination and before taking on the CDC role, she will receive one year’s salary in cash and a bonus, or she could forfeit it.
UnitedHealth will cash out Dr. Schwartz’s unvested restricted stock units and unvested stock options that would have vested from August 2026 through August 2027 had she continued with the company. She will also relinquish the remaining unvested restricted stock units or unvested options. Dr. Schwartz can either receive the payments for the unvested restricted stock units and unvested stock options before assuming her CDC position, or she can forfeit those, as well. After her final cash payment, Dr. Schwartz will remove herself from UnitedHealth-related matters for two years, unless she receives a written waiver.
Dr. Schwartz’s vested stock options’ strike price is currently below market price. If that continues through her termination, she will forfeit these options. Otherwise, she will exercise the options, and any resulting stock will be divested.
She will also step away from ultrasound company Butterfly Network, home care platform Aveanna Healthcare Holdings and nonprofit Searching for Solutions Institute. Dr. Schwartz will divest Butterfly Network and Aveanna Healthcare Holdings stock within the 90 days after her confirmation. She will also avoid direct financial interests that could be affected by HHS.
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