UnitedHealth Group Announces Major Executive Changes

UnitedHealth Group, one of the largest healthcare companies in the United States, has revealed significant changes to its executive leadership team. The announcement comes as part of the company's ongoing efforts to navigate its financial turnaround and strengthen its position in the healthcare industry.

CFO Transition: John Rex Steps Down

John Rex, the current Chief Financial Officer of UnitedHealth Group, is set to step down from his position on September 2. Rex, who initially joined the company as CFO of its Optum division, will transition into a new role as strategic adviser to CEO Stephen Hemsley.

In a press release, Hemsley praised Rex's contributions to the company, stating, "John Rex has been an exceptional leader, having helped guide our company through substantial change with both strategic vision and strong commitment to our mission."

Wayne DeVeydt Named as New CFO

Taking over the CFO position will be Wayne DeVeydt, who joins UnitedHealth Group from Bain Capital, where he served as a managing director and operating partner. DeVeydt brings a wealth of experience to the role, having previously held leadership positions at Surgical Partners, Anthem, and PricewaterhouseCoopers.

Expressing his enthusiasm for the new role, DeVeydt said, "There is no organization besides UnitedHealth Group that presents the kinds of opportunities to make a difference in health care, from individual patient care to broad system efficiency, so I am eagerly looking forward to joining the team."

Broader Executive Restructuring

The CFO transition is part of a larger executive restructuring at UnitedHealth Group. Since Stephen Hemsley's return as CEO in May, the company has made several key leadership changes:

1. New leaders have been appointed to oversee UnitedHealthcare's government businesses.
2. Patrick Conway, M.D., the CEO of Optum, has taken on an additional role as chief of the Optum Health division.

These changes reflect UnitedHealth Group's commitment to strengthening its leadership team as it works towards financial recovery and continued growth in the healthcare sector.