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UnitedHealth makes sudden CEO change, elevating Witty

Copy shortlink: David Wichmann is stepping down as chief executive of UnitedHealth Group after less than four years running Minnesota s largest company, an abrupt move that surprised investors Thursday and apparently drove a one-day decline in the Minnetonka-based company s stock price. Analysts said they don t anticipate a strategy shift as the CEO job passes to Andrew Witty, a onetime chief executive at the pharmaceutical giant GlaxoSmithKline. He currently runs UnitedHealth Group s fast-growing Optum division for health care services. The timing of Thursday s announcement puzzled some analysts, and investors sent UnitedHealth shares down 2.5%. Witty only recently returned to the company after a seven-month leave to help the World Health Organization s program to develop and distribute coronavirus vaccines. When Wichmann became CEO in September 2017, the company said the leadership transition had been in the works for almost four years a period of time

UnitedHealth Group names new CEO, COO

UnitedHealth Group names new CEO, COO Andrew Witty UnitedHealth Group announced a surprise executive shakeup on Thursday, with Andrew Witty immediately serving as the new head of the health giant and former insurance subsidiary CEO Dirk McMahon now serving as Chief Operating Officer. In the new role, Witty succeeds CEO David Wichmann, who will retire from the Minnetonka, Minn.-based company after 22 years. Wichmann worked as chief financial officer, president and was appointed as the company s head in September 2017. He will continue in a transition period through March. Stephen Hemsley, chairman of company s board of director s, said Witty s previous work with the company informed the board s decision to make him its head.

UnitedHealth names Sir Andrew Witty as new CEO amid current CEO s retirement

Created: February 04, 2021 09:27 AM UnitedHealth Group s board of directors has named a new chief executive officer, to succeed the current CEO who is retiring. In a release issued Thursday, Minnetonka-based UnitedHealth Group stated Sir Andrew Witty will take over the role of CEO as David S. Wichmann retires. As we have come to know firsthand during his time at UnitedHealth Group, Andrew Witty combines an extraordinary breadth and depth of health care experience, sophisticated strategic thinking and outstanding leadership development skills, making him uniquely well-positioned to help the company take the next steps on its steady path to grow and deliver for its shareholders and the customers and people we are privileged to serve, Stephen J. Hemsley, chairman of the UnitedHealth Group board of directors, said in a statement.

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