UnitedHealth investors approve new CEOs $60M pay package despite turmoil following top executives assassination
UnitedHealth investors on Monday approved a pay package that includes $60 million in stock to its new CEO – even as the company is plagued by financial losses, reported criminal fraud accusations and the shocking murder of a top executive.Stephen Hemsley, who previously served as UnitedHealth’s chief executive for about a decade until 2017, returned to the top job last month after the healthcare giant reported its first earnings miss since 2008.Along with the $60 million award, which vests in three years, Hemsley will earn a $1 million annual salary.“Steve Hemsley’s compensation is positioned at the median for CEOs of comparable companies and is substantially aligned with the interests of all company shareholders,” a UnitedHealth spokesperson told The Post in a statement.Helmsley’s expected windfall comes after Andrew Witty stepped down last month following four years at the helm.The company’s market capitalization has more than halved since its November peak, losing over $250 billion.“We will take actions necessary to deliver the performance we are capable of while providing exceptional services and outcomes for customers, consumers, and care providers,” the healthcare giant said in a statement.In December, the company was rocked in December by the execution-style killing in midtown Manhattan of Brian Thompson, who led its insurance branch.Accused killer Luigi Mangione has pleaded not guilty.
His trial is set to begin in 2026.Shareholders sued UnitedHealth last month for allegedly concealing how backlash from the killing was damaging its business.In a proposed class action filed last month in Manhattan federal court, shareholders said the insurer defrauded them after Thompson’s assassination by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.UnitedHealth is also facing investigations from the Department of Justice for possible criminal Medicare fraud, according to The ...