UnitedHealth Group’s former CEO Andrew Witty has resigned from the company’s board of directors, effective immediately.
Mr. Witty will not stand for re-election as a director during the company’s annual shareholder meeting scheduled for June 2, the company said in regulatory documents filed May 21.
On May 13, UnitedHealth replaced Mr. Witty with its board chair and former CEO, Stephen Hemsley, and suspended its 2025 earnings outlook following an “unusual and unacceptable” first quarter performance marked by rising utilization across the company.
Mr. Witty had served as UnitedHealth’s CEO since 2021 and stepped down for “personal reasons.” The company said he will serve as a senior adviser to Mr. Hemsley.
UnitedHealth is asking shareholders to support a $60 million pay package for its new CEO. Mr. Hemsley and four other company leaders purchased UnitedHealth stock on May 16 following a major downturn over the last month.
The company’s stock was down more than 2% to $296.67 on May 22 after falling more than 50% over the last six months. According to Barron’s, UnitedHealth is the worst performer in the Dow Jones Industrial Average in 2025.
