NEW YORK, May 13 (Xinhua) -- UnitedHealth CEO Andrew Witty is stepping down for personal reasons as the largest health insurer in the United States suspended its full-year financial outlook due to higher-than-expected medical costs.
Chairman Stephen Hemsley will become CEO, effective immediately, The Associated Press on Tuesday quoted the Minnesota-based company as saying.
Hemsley was UnitedHealth Group CEO from 2006 to 2017. He will remain chairman of the company's board. Witty will serve as a senior adviser to Hemsley.
"It has been a punishing period for UnitedHealth, starting in December when executive Brian Thompson was targeted outside of a New York City hotel and killed," noted the report.
While unrelated to the financial operations of the 340 billion U.S. dollars healthcare giant, its shares have tumbled severely since the attack, it added.
