In a shocking turn of events, Andrew Witty has resigned as CEO of UnitedHealth Group, triggering a 17% stock drop and raising concerns over the company's future amid rising medical costs and a recent antitrust lawsuit.
In a surprising turn of events, Stephen Hemsley is back as CEO of UnitedHealth after the abrupt departure of current leader Witty. The company faces significant challenges, including recent cyberattacks and rising medical costs.
UnitedHealth Group's shares plummeted 23% in midday trading following a rare earnings miss, erasing nearly $120 billion in market value due to unexpected medical costs and higher care utilization.
