UnitedHealth Reinstates Stephen Hemsley After Financial Hi

UnitedHealth Group, the largest health insurer in the country, is turning back the clock in a moment of crisis. On Tuesday, the company announced that chairman Stephen Hemsley is returning as CEO, stepping back into the role he left in 2017. The shakeup comes as Andrew Witty, who has led the company since 2021, stepped down immediately, citing personal reasons.The leadership change caps off a stretch of headline-grabbing trouble for UnitedHealth, according to AP News. The company has faced growing pressure after a major hack paralyzed parts of the U.S. health-care system, a fatal shooting involving a senior executive stirred public backlash, and a federal investigation zeroed in on its business practices. On top of all that, earnings took a hit, and the stock dropped sharply—wiping out nearly $190 billion in value in just a few months.UnitedHealth also announced it’s suspending its 2025 financial outlook, saying medical costs are rising faster than expected, especially in its Medicare plans. Still, the company says it expects to be back on track by 2026.Hemsley’s return marks a familiar move in corporate circles: when things get rough, bring back the leader who helped build the empire. During his previous run, Hemsley expanded UnitedHealth into a juggernaut—growing beyond insurance to include doctors, data, and pharmacy services. His reappearance follows the same blueprint seen recently at companies like Disney and Starbucks, which both tapped former CEOs to help right the ship.Related: Airbnb Announces Major Change to Compete With HotelsWitty, meanwhile, will stay on as a senior adviser. UnitedHealth Group Inc. provides insurance to more than 50 million people in the U.S. Plus, it’s the largest Medicare Advantage plan provider, serving over 8 million. The impact of the leadership change is still unclear, but the company’s decision to bring back a longtime former CEO highlights a move toward familiar leadership during a challenging period.