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

UnitedHealth Group Inc. is giving Stephen Hemsley a one-time $60 million equity award on top of a $1 million base salary as he begins his second round as chief executive officer of the beleaguered insurer.

(Reuters) -UnitedHealth Group CEO Stephen Hemsley will get an annual base salary of $1 million and a one-time $60 million equity award as he returns to the top role at a tough time for the healthcare conglomerate.

FILE PHOTO: UnitedHealth CEO Andrew Witty testifies before a Senate Finance Committee hearing about a recent cyberattack at the company's technology unit and its impact on patients and providers, in this frame grab taken from video on Capitol Hill in Washington, U.S., May 1, 2024. U.S. Senate/Handout via Reuters/File photo

UnitedHealth Group announced the surprise exit of CEO Andrew Witty on Tuesday and suspended its 2025 forecast due to surging medical costs, sending its shares down more than 10% premarket. Former CEO Stephen Hemsley,

UnitedHealth Group said Chief Executive Andrew Witty stepped down for “personal reasons” after presiding over a punishing period for the company, including a steep drop in its shares after its quarterly earnings last month fell significantly short of investors’ expectations.