UnitedHealth Group CEO Stephen Hemsley, who replaced Andrew Witty, said he has the right strategy in place “for the era ahead.”

UnitedHealth Group announced a new CEO Tuesday, an unexpected change at the company that has been embroiled in chaos since the fatal shooting of then-CEO Brian Thompson in December. Former CEO Andrew Witty stepped down for “personal reasons,

The executive earlier caused public outrage when he defended the insurance giant’s practice of denying health care claims.

A stock slide and investigations will put Stephen Hemsley’s credibility with investors to the test.

UnitedHealth Group was sued Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook.

UnitedHealth Group’s CEO announced his shock resignation on Tuesday less than a week after alleged UnitedHealthcare shooter Luigi Mangione’s legal defense fund surpassed $1 million in donations. Andrew Witty has managed the conglomerate since 2021 and handled the fallout after 27-year-old Mangione allegedly shot UnitedHealthcare CEO Brian Thompson in broad daylight in Manhattan last December.

A group of investors this week filed a proposed class-action lawsuit against UnitedHealth Group, alleging that the company withheld information following the murder of UnitedHealthcare CEO Brian Thompson last December.

The lawsuit, which seeks class action status, alleges that UnitedHealth and its executives didn’t properly warn investors about how the killing of UnitedHealthcare CEO Brian Thompson would affect its business.