UnitedHealth Group CEO Andrew Witty suddenly out "for personal reasons"

Driving the news: Andrew Witty — who became CEO in 2021 — is leaving immediately "for personal reasons," the company said Tuesday in a statement.

• Chairman Steve Hemsley is returning to the company as CEO after serving in the role from 2006-17. He will remain chairman.
• The announcement was paired with the suspension of the company's earnings guidance.

The big picture: Witty was at the helm when UnitedHealthcare CEO Brian Thompson was shot and killed on a sidewalk outside of a Manhattan hotel.

• The public killing — which authorities say was motivated by discontent with the health care system — sparked a national conversation about insurance coverage and profits.
• In the aftermath of Thompson's death, Witty pledged to help fix the health care industry, while also defending his business and blaming drug companies for driving up health care costs.

What they're saying: "We are grateful for Andrew's stewardship of UnitedHealth Group, especially during some of the most challenging times any company has ever faced," Hemsley said Tuesday in a statement. "The Board and I have greatly valued his leadership and compassion as chief executive and as a director and wish him and his family the best."

By the numbers: UnitedHealth Group shares fell 11% in premarket trading.

• The stock was already down 25% this year through Monday's close.