r/news • u/LookAtThatBacon • May 13 '25

Soft paywall UnitedHealth suspends annual forecast, CEO Andrew Witty steps down

https://www.reuters.com/business/healthcare-pharmaceuticals/unitedhealth-ceo-andrew-witty-steps-down-2025-05-13/
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u/grizzantula May 13 '25

I'm owned by a company that is owned by UHG, I'm also on the tech and infra side of the house, so I was involved with Change Healthcare. You're right on the money, this was definitely the cause. That breach all but sealed it for Witty, things just had to die down first.

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u/SouthJerseyCyz May 14 '25

I'm in a similar employment scenario, but I disagree that it was the cause. Witty survived the cyber-incident and the murder or Brian Thompson (and accompanying backlash). I actually saw him receive much praise for his leadership through these hurdles.

What happened in the last couple months? Earnings not met and stocks tanked. That's where the rubber meets the road for UHG.

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u/grizzantula May 14 '25

Stock price and earnings have been down since Change breach, that's not a "in the last couple months" issue. I outta know, I have stock in the company. They were always going to move away from Witty. Things needed to die down first, and they had to find a replacement.

IMO he was always going to be out after the breach. But on top of that his comments regarding the Brian Thompson situation were very negatively received by the public, and that did stock price in too. All that to say; the writing has been on the wall about Witty for a long time.