UnitedHealth Group Announces Leadership Actions
March 13 2018 - 6:55AM
Business Wire
- Larry Renfro to lead enterprisewide
growth efforts, Optum Ventures investment funds
- Sir Andrew Witty, current company
director, to become Optum CEO July 1, 2018
- Company to launch new Optum Ventures
Global Fund
UnitedHealth Group (NYSE: UNH) today announced Larry C. Renfro,
vice chair of UnitedHealth Group and chief executive officer of
Optum, will lead UnitedHealth Group’s enterprise growth efforts and
Optum’s next-generation investment initiatives through an expanded
Optum Ventures. Andrew Witty will join UnitedHealth Group,
succeeding Renfro as CEO of Optum, effective July 1, 2018. Witty is
the former chief executive officer of GlaxoSmithKline plc (GSK) and
has served as a member of the UnitedHealth Group board of directors
since August 2017.
Renfro will focus his work on UnitedHealth Group growth
priorities and developing, maintaining and expanding strategic
relationships, sponsorships and partnerships worldwide. Renfro will
help accelerate the company’s innovation capacities and reach as
managing partner of Optum Ventures, a series of domestic and
international funds, including a new, $100 million Global Fund,
dedicated to emerging and advanced technology, data analytics and
health care services companies with transformative capabilities to
make health care better for everyone. The new global fund
complements the domestic Optum Ventures fund announced in November
2017; together they have total investment commitments of up to $600
million.
Renfro joined UnitedHealth Group in 2009 as CEO for the Public
and Seniors Market Group before becoming CEO of Optum in 2011 and
also vice chair in 2014.
David S. Wichmann, chief executive officer of UnitedHealth
Group, said, “Our growth and diversification across UnitedHealth
Group continue to advance at a strong pace, driven in part by
well-recognized and growing depth in executive leadership. At
Optum, Larry Renfro and his team have built a $100 billion,
innovative and groundbreaking organization that is truly helping
make the health system work better for everyone while helping to
transform health care. I am both excited and grateful that Larry
will partner with me at the enterprise level, dedicating his
talents to strengthening our present day growth agenda and future
capability development and strengthening of Optum through
early-stage investing at Optum Ventures.
“We are deeply fortunate in Andrew Witty to have the right
person to extend Optum’s momentum and lead the business in its next
phase of growth. He brings more than three decades of health care
system strategic thinking and knowledge from around the globe, a
record of fostering innovation and partnerships, seasoned
leadership of complex organizations and a commitment to improving
care delivery that will now benefit Optum. Critically, he has deep
experience with how data and analytics and new technologies can be
used to improve patient outcomes, better serve consumers, lower
costs and drive value across the system – which is at the heart of
Optum’s work to shape health care for the better. Andrew’s
experience and familiarity with the business and our leaders
through his service on our board will make this a seamless
transition,” said Wichmann.
Renfro said, “I’m extremely proud of the immense progress made
in advancing health care and this enterprise by the people of Optum
over the last seven years, and believe strongly Andrew Witty is the
right person to lead our well-established, high performing team, as
Optum pursues its next chapter of consistent growth and health
system improvement. I look forward to partnering across the company
to drive the innovations and collaborations that will be critical
to UnitedHealth Group’s long-term growth as we seek to build a
higher-performing and modern health care system that is more highly
valued by all.”
Witty said, “As I have now seen up close, Optum’s people,
expansive capabilities, client focus and culture make it a unique
platform from which to advance health care worldwide, so I am
incredibly excited to be part of the team. With a proven strategy,
great leadership and top talent, Optum has the unique opportunity
to continue improving the health care experience, outcomes and
value people receive in the U.S. and globally, and I am honored to
participate in that mission – especially having come to know the
leaders of the enterprise through my work as a director. In many
ways, even with all its accomplishments, Optum feels as though it
is just getting started.”
In light of his new appointment, Witty will step down from the
UnitedHealth Group board of directors, effective immediately.
Witty joined GSK in 1985 and served as CEO and a director of GSK
from 2008 until 2017. Witty is the outgoing Chancellor of the
University of Nottingham, a British public research university, and
serves on the Singapore Economic Development Board International
Advisory Committee, the Council at the London School of Hygiene and
Tropical Medicine and as an Advisor to the Bill and Melinda Gates
Foundation. Witty was knighted in 2012 for services to the U.K.
economy. He also serves on the board of G1 Therapeutics, Inc.
Optum has 140,000 employees worldwide who serve and connect 124
million individuals, approximately 300 health plans and four out of
five U.S. hospitals, as well as life sciences companies, employers
and governments. Through its five core capabilities – data and
analytics, technology, pharmacy care services, population health
management and health care delivery – Optum delivers intelligent,
integrated solutions that help to modernize the health system and
make it work better for everyone.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health and
well-being company dedicated to helping people live healthier lives
and helping make the health system work better for everyone.
UnitedHealth Group offers a broad spectrum of products and services
through two distinct platforms: UnitedHealthcare, which provides
health care coverage and benefits services; and Optum, which
provides information and technology-enabled health services. For
more information, visit UnitedHealth Group at
www.unitedhealthgroup.com or follow @UnitedHealthGrp on
Twitter.
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version on businesswire.com: http://www.businesswire.com/news/home/20180313005535/en/
Investors:UnitedHealth GroupBrett Manderfeld, 952-936-7216Vice
PresidentorUnitedHealth GroupJohn S. Penshorn, 952-936-7214Senior
Vice PresidentorMedia:UnitedHealth GroupTyler Mason,
424-333-6122Vice Presidenttyler.mason@uhg.comorOptumMatt Stearns,
202-276-0085Vice Presidentmatt.stearns@optum.com
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