UnitedHealth’s Optum CFO Reportedly Exits In Less Than Six Months Into The Role

• Roger Connor is leaving the role to return to the U.K. to be closer to family, according to a Bloomberg report on Thursday, citing an internal memo.
• Finance executive Ben Eklo will take over as the unit’s CFO starting November 1, the report added. 
• Connor’s exit marks the latest management overhaul at the company this year.
   

UnitedHealth Group’s (UNH) Optum unit’s CFO, Roger Connor, is reportedly leaving the role less than six months into the role.

According to a Bloomberg report on Thursday, citing an internal memo, Connor is leaving the role to return to the U.K. to be closer to family. Finance executive Ben Eklo will take over as the unit’s CFO starting November 1, the report added. Eklo has been with UnitedHealth for 18 years.

Connor, however, will stay on at the company through April to ensure a transition, the memo reportedly said. He was appointed Optum CEO in May. The memo also described several other changes in finance roles in the company’s business units, including at Optum Health and for UnitedHealthcare’s government insurance plans, Bloomberg added.

Optum’s Significance

UnitedHealth’s Optum division includes its pharmacy benefits business, a portfolio of medical clinics and in-home care programs, and a data and technology unit.

In July, the company said it expects total Optum revenue of $266 billion to $267.5 billion and operating earnings of $12.55 billion to $12.85 billion for the full year 2025. In the three months through the end of June, the division reported revenue of $67.2 billion and earnings from operations of $3.1 billion.

Management Shake-Ups This Year

Connor’s exit marks the latest management overhaul at UNH this year. Andrew Witty withdrew from his CEO role in May, citing personal reasons, and was replaced by Stephen Hemsley. The company also named Wayne DeVeydt as CFO in July, replacing John F. Rex.

The management shakeups follow other crises at the insurance company. In July, the insurer issued fresh guidance for full-year revenue of $445.5 billion to $448.0 billion and adjusted earnings of at least $16.00 per share, after suspending its previous outlook in May due to higher medical costs. The company had previously forecast adjusted profit of $29.50 to $30.00 per share, nearly double its latest forecast.

UNH shares fell 1% on Thursday afternoon at the time of writing. On Stocktwits, retail sentiment around UNH rose from ‘bearish’ to ‘neutral’ territory over the past 24 hours, while message volume remained at ‘normal’ levels.

UNH stock is down by 29% this year and by 36% over the past 12 months. 

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