Andrew Witty Tops US Managed Care Pay List with 11.9% Raise in 2024.

Former UnitedHealth CEO Andrew Witty received an 11.9% pay increase, making him the highest-paid CEO of U.S.-listed health insurers in 2024, according to S&P Global Market Intelligence analysis. Witty's total compensation reached $18.7 million.

UnitedHealth Group, the largest healthcare firm in the U.S. by revenue, is undergoing significant leadership changes and market pressures. The company has appointed Wayne S. DeVeydt as Chief Financial Officer (CFO), effective September 2, 2025. DeVeydt, previously the CEO of Surgery Partners and managing director at Bain Capital, is replacing John F. Rex, who served as CFO since 2016 and will now be a strategic advisor [1].

The appointment comes amidst a challenging financial landscape for UnitedHealth. The company's market value has plummeted by over 50% in the past year, exacerbated by lower-than-expected profits and the sudden resignation of CEO Andrew Witty in May 2025. Witty's departure, which was attributed to personal reasons, led to the return of former CEO Stephen Hemsley to stabilize the company [1].

Despite the turmoil, Warren Buffett's Berkshire Hathaway has injected $1.57 billion into UnitedHealth, boosting investor confidence. The investment, announced on June 30, 2025, saw the company's stock rise by 8.5% in after-hours trading [1]. Buffett's investment underscores his belief in the company's ability to navigate the challenges in the healthcare sector.

DeVeydt's experience in improving operations and speeding up growth is seen as crucial in restoring investor trust and navigating the complexities of the healthcare sector. One of his key priorities will be to ensure that UnitedHealth gets paid more for the risks it takes in its four primary areas: UnitedHealthcare coverage, Optum Health care delivery, Optum Insight software and analytics, and Optum Rx pharmaceutical benefits [1].

UnitedHealth's recent strategic moves, such as acquiring Amedisys to expand into home healthcare services, indicate a commitment to growth despite the current financial challenges. The company's strong basic metrics, including a 7.8% EBIT margin and a 22.81% return on equity, suggest that the business remains robust [1].

Following Berkshire's investment, UnitedHealth shares have seen a significant rebound, with some assessments showing increases of over 26% in recent trading sessions. However, technical indicators suggest potential volatility in the near future, with some analysts cautioning against overbought conditions [1].

References:
[1] https://www.fxleaders.com/news/2025/08/18/unitedhealth-group-navigates-turbulent-waters-as-new-cfo-takes-helm/