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UnitedHealth CEO to step down after run of more than decade

UnitedHealth Group has picked company President David Wichmann to replace Ceo Stephen Hemsley in a long-planned transition that Wall Street greeted with polite applause.

Wichmann, a former partner with Arthur Andersen, joined UnitedHealth in 1998, a year after Hemsley arrived, and has worked through several key executive roles.

Wichmann also has led mergers and acquisitions as the insurer pushed well beyond processing doctor bills and delved deeper into other elements of patient care.

The Mizuho Securities USA analyst also noted that Burke, one of the company's founders, will remain involved, "so the guardians of the (UnitedHealth) galaxy are firmly in place."

Hemsley's tenure began in 2006, when he took over after the previous leader, William McGuire, was forced to leave over a scandal involving the backdating of company stock options.

READ MORE (Yahoo Finance)

  • UnitedHealth Group names new CEO; Stephen Hemsley will become executive chairmanMinneapolis Star Tribune
  • UnitedHealth Names David Wichmann as New CEO -- 2nd
  • UnitedHealth names Wichmann CEO, Helmsley executive chairmanReuters
  • UnitedHealth Group Names New CEOInsurance News Net
  • UnitedHealth's Hemsley to leave CEO postHartford Business
  • UnitedHealth CEO Hemsley to step down; Wichmann named top executiveMinneapolis / St. Paul Business Journal
  • UnitedHealth CEO Stephen Hemsley to step down September 1MedCity News
  • David Wichmann named UnitedHealth's new CEO: 3 things to knowBecker's Hospital Review
  • UnitedHealth names David Wichmann as CEOBusiness Insider

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UnitedHealth CEO to step down after run of more than decade


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