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The basic salary of the new CEO of UnitedHealth (UNHUS) is far lower than that of his predecessor at $1 million per year

Zhitongcaijing·05/14/2025 11:57:04
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The Zhitong Finance App learned that United Health (UNH.US) announced on Wednesday that the basic annual salary of the new CEO Stephen Hemsley will be 1 million US dollars. Prior to that, the company announced Andrew Witty's resignation as CEO due to personal reasons.

The managed care giant added that the board of directors and its compensation and human resources committee approved Hemsley's compensation plan “after considering market data, advice from the Commission's independent compensation advisors, and other factors.”

Hemsley, 72, is chairman of the company's board of directors and previously served as CEO. Hemsley was named CEO by UnitedHealth after Witty's sudden departure on Monday, with immediate effect.

Although Hemsley is both Chairman and CEO of UnitedHealth, he will no longer be paid as a director.

According to reports, Witty, 60, was the CEO of British pharmaceutical company GlaxoSmithKline (GSK.US). He joined UnitedHealth in 2018 as the head of Optum RX, its pharmacy benefits management department, and became the company's CEO in 2021. Witty's basic salary in 2024 was $1.5 million.

As of press release, UnitedHealth is up 2.2% in the premarket. The stock closed down 17.8% on Tuesday.