The new UnitedHealth Group Inc (NYSE:UNH) CEO is David Wichmann.
He will replace Stephen Hemsley as boss on Sept. 1, while board chairman Richard Burke will become the company’s independent director. Here are seven things to know about him:
- Wichmann has a storied career with the health care provider, joining originally in 1998.
- Since then, he has served in various roles with the company, including as chief financial officer from 2011 until mid-2016, when he was named president of UnitedHealth Group.
- He has been at the helm of the company’s benefits business, UnitedHealthcare, since 2014.
- “With nearly 20 years of service to the company, Dave has the business and leadership skills, enterprise knowledge and support, broad health care experience, and deep expertise in areas that are critical to our future – especially growth-oriented technology, operations and global markets. He is the right person to lead UnitedHealth Group through the continuing evolution of health care,” said Hemsley, who will remain as the company’s executive chairman.
- “Health care will continue to change, but this is an enterprise built for change: innovative, adaptable and consumer-centric,” Wichmann said.
- His total annual compensation in the most recent fiscal year amounted to roughly $12.3 million.
- Wichmann has roles with other companies, including as a board member and independent director for cleaning products provider Tennant Company (NYSE:TNC), a role he’s held since 2009.
UNH stock fell 0.7% Wednesday.