UnitedHealth Group Sales Intelligence Report
UnitedHealth Group Org Chart: Corporate Structure, Board of Directors and Executive Leadership (2026)
As of September 27, 2026, UnitedHealth Group Incorporated is led by Stephen Hemsley, Chair and Chief Executive Officer, with Wayne DeVeydt as Chief Financial Officer and F. William McNabb III as Lead Independent Director. The company runs two businesses, Optum and UnitedHealthcare, reported as four segments: Optum Health, Optum Insight, Optum Rx and UnitedHealthcare.
Sources: the FY2025 Form 10-K (filed March 2, 2026), the Q2 2026 Form 10-Q (signed August 10, 2026), the 2026 proxy statement (April 21, 2026), the July 16, 2026 earnings call, and company announcements through September 24, 2026.
UnitedHealth Group key facts
| Legal name | UnitedHealth Group Incorporated (10-K FY2025, cover) |
|---|---|
| State of incorporation | Delaware (10-K FY2025, cover) |
| Principal executive offices | 1 Health Drive, Eden Prairie, Minnesota 55344 and 655 New York Avenue NW, Washington, DC 20001 (10-K FY2025, cover) |
| Ticker and exchange | UNH, New York Stock Exchange (10-K FY2025, cover) |
| FY2025 revenue | $447.6 billion, up 12% from 2024 (10-K FY2025, Item 7) |
| First-half 2026 revenue | $223.8 billion ($112.0 billion in Q2) (10-Q Q2 2026, Item 1) |
| Employees | More than 390,000, including nearly 165,000 clinical professionals, as of Dec 31, 2025 (10-K FY2025, Item 1) |
| UnitedHealthcare medical members | 48.5 million as of June 30, 2026 (10-Q Q2 2026, Item 2) |
| Optum Health people served | About 93 million as of June 30, 2026 (10-Q Q2 2026, Item 2) |
| Footprint | Medicaid programs in 32 states and the District of Columbia; Optum Rx network of about 64,000 retail pharmacies (10-K FY2025, Item 1) |
| Reportable segments | Optum Health, Optum Insight, Optum Rx, UnitedHealthcare (10-Q Q2 2026, Note 9) |
| Independent auditor | Deloitte & Touche LLP, since 2002 (2026 proxy, Proposal 3) |
UnitedHealth Group corporate structure
Sources: UnitedHealth Group Form 10-K for FY2025 (filed March 2, 2026), Item 1; Form 10-Q for Q2 2026 (signed August 10, 2026), Notes 7, 8 and 9; Becker's Payer Issues on the Alegeus acquisition (August 2026) and the Banmédica sale (November 30, 2025).
UnitedHealth Group board of directors
Source: UnitedHealth Group 2026 proxy statement (DEF 14A, April 21, 2026), directors elected at the June 1, 2026 annual meeting. Committee tags include assignments the proxy lists as effective June 1, 2026. Michele Hooper did not stand for re-election. Principal occupations from the FY2025 Form 10-K, Item 10.
UnitedHealth Group executive leadership
Sources: FY2025 Form 10-K, Item 1 (executive officers as of March 2, 2026); Q2 2026 Form 10-Q signature page (August 10, 2026); Dennis Stankiewicz LinkedIn profile for his full title; UnitedHealth Group press release, September 24, 2026; Becker's Hospital Review executive team profile for Erin McSweeney's scope. Reporting lines not disclosed in the filing.
Seller intelligence on UnitedHealth Group
UnitedHealth Group's strategic priorities
The CEO's 2026 proxy letter names four themes: mission and culture, intelligent technologies, modernizing health care, and market-leading transparency. On the July 16 call, management tied its outlook to integrated value-based care and reaffirmed a long-term earnings growth target of 13% to 16%. A proposal framed around cost structure, transparency or faster care decisions speaks to the agenda the CEO has put in writing.
The full Databahn report ties each priority to the executive and budget line behind it.
What UnitedHealth Group's executives are paid to deliver
The 2025 annual bonus weighted revenue at 30%, operating income at 30%, cash flow from operations at 15%, and customer (NPS) and employee experience (EXI) scores at 12.5% each; payouts landed between 0% and 88% of target. Performance awards granted in December 2025 for 2026 to 2028 put 40% on business segment margin recovery and 20% each on NIST cyber scores, structural operating cost reduction and reportable earnings from AI products, and pay nothing unless adjusted earnings growth clears a set threshold. Sellers whose offer moves one of these numbers speak the language leadership is measured in.
The full Databahn report maps each metric to the executive who carries it and the questions that open that conversation.
Spending and capital plans
UnitedHealth Group spent $3.6 billion on property, equipment and capitalized software in 2025 and $1.6 billion in the first half of 2026. The CEO's proxy letter projects nearly $1.5 billion of AI investment in 2026 and at least that much in 2027, and the 10-K lists $8.1 billion of fixed purchase commitments, $2.5 billion of it due within 12 months. Share repurchases are guided to at least $5 billion for 2026. New spending competes with a cost mandate: Q4 2025 restructuring included $746 million for real estate rationalization and workforce reductions.
The full Databahn report shows where discretionary technology dollars sit and who approves them.
Acquisitions and integrations
UnitedHealth Group completed business combinations worth $4.8 billion in 2025, with $4.0 billion of the resulting goodwill recorded at Optum Health. On July 2, 2026, Optum Financial closed its $3.0 billion acquisition of Alegeus Technologies, a benefits technology platform, paying $1.5 billion in cash with $1.5 billion due within a year. On November 30, 2025 the company agreed to sell Banmédica, its last South American business, to Patria Investments for $1 billion, with closing expected in the second half of 2026. The 10-K says acquired businesses have carried sharper IT vulnerabilities, citing the 2024 cyberattack on Change Healthcare, which it had recently acquired.
The full Databahn report tracks integration status by deal and the owner of each integration program.
Technology and AI initiatives
Management reported AI ambient listening available to 70% of employed Optum Health providers, with a target above 90% by the end of 2026. Value Connect, an Optum Insight tool built into provider workflows, cut early clients' pharmacy costs by 17%, and a digital prior authorization product in the Optum Real family has saved 69,000 administrative hours. UnitedHealthcare committed to processing 80% of prior authorizations in real time by the end of 2027, and about a third of Optum Insight's 2026 investment goes to turning internal AI tools into products for outside customers. UnitedHealth Group buys AI capability and sells it, which shapes how it judges vendors.
The full Databahn report names the leaders running each AI program and where outside partners fit.
Risk factors and pressure points
The 10-K flags medical cost estimation (risk-based premiums are nearly 80% of revenue), reliance on CMS (44% of 2025 revenue), cyberattacks, Medicare Advantage funding and risk adjustment audits, pharmacy benefit regulation, and the use of AI. Open matters include a Justice Department False Claims Act case over risk adjustment submissions and IRS notices received March 6, 2026 proposing transfer pricing adjustments for 2017 to 2020. Offers that cut medical cost, audit exposure or security risk land on problems the company discloses to its own investors.
The full Databahn report ranks these pressure points by budget impact and names the owner of each.
How vendors get approved at UnitedHealth Group
Under Item 1C of the 10-K, third parties must handle data under UnitedHealth Group's privacy and cybersecurity requirements, and a third-party risk management program checks their controls and business continuity plans. AI tools go before an Artificial Intelligence Review Board that can approve models or require their removal from production, and depending on the work the company acts as a HIPAA covered entity or a business associate. Expect security, privacy and, for anything with AI, model governance review before a contract is signed.
The full Databahn report lays out the review stages and the teams that sign off at each one.
Who owns security and data decisions
The Chief Security Officer and the Chief Digital and Technology Officer co-chair the Enterprise Security Council, which also seats the Chief Compliance Officer, Chief Legal Officer, Chief Audit Executive and Chief Privacy Officer. The filings do not name the CSO or CDTO. On the board, the Audit and Finance Committee, chaired by Timothy Flynn, oversees cybersecurity, privacy and the AI governance framework, and management assigned ownership of AI governance to the Chief Legal Officer in 2024. Security and AI purchases pass through legal and compliance as well as technology.
The full Databahn report names the security and technology leaders the filings leave out.
Leadership changes at UnitedHealth Group
The CEO's proxy letter says nearly half of the top 100 leadership roles have been refreshed. New leaders reset priorities and revisit vendor relationships. Changes since January 2025:
- Timothy Noel became CEO of UnitedHealthcare in January 2025.
- Stephen Hemsley became CEO on May 12, 2025, after Andrew Witty stepped down, and remains Chair.
- Dr. Patrick Conway became CEO of Optum in May 2025.
- Wayne DeVeydt joined as CFO on September 2, 2025; John Rex moved to a Strategic Advisor role.
- F. William McNabb III became Lead Independent Director in August 2025, succeeding Michele Hooper, and the board formed a Public Responsibility Committee that month.
- Scott Gottlieb, M.D. joined the board in November 2025.
- Heather Cianfrocco, a former Optum CEO, became chief operating officer of Highmark Health on May 5, 2026.
- Dennis Stankiewicz signed the Q2 2026 10-Q as Chief Accounting Officer.
- Jodee Kozlak joins on September 28, 2026 as Chief Administrative Officer, a new role leading enterprise modernization with a portfolio that starts with People, Real Estate, Procurement and Corporate Security.
- Erin McSweeney continues as Executive Vice President and Chief People Officer, focused on people and culture strategy, talent acquisition and leadership alignment.
The full Databahn report covers the next layer of new appointees and what each has signaled so far.
Systems and business transformations
Q4 2025 restructuring totaled $2.5 billion, including $746 million for real estate rationalization and workforce reductions and $573 million of contract reassessments. On January 1, 2026, Optum Financial and Optum Bank moved from Optum Health to Optum Insight. In May 2026 Optum Rx announced a pharmacy model built on monthly per-member fees with full PBM and GPO fee transparency, and it expects more than 95% of clients on 100% manufacturer rebate pass-through by the end of 2026. The Q2 2026 10-Q reports no material changes in internal control over financial reporting. Moved business units and a new pricing model bring new processes, systems and reporting needs.
The full Databahn report identifies the systems in motion and the program owners behind them.
Shareholder pressure
Say-on-pay drew 60% support at the 2025 annual meeting. Independent directors then contacted 46 shareholders holding 60% of shares and spoke with 21 holding 51%. The board answered by ruling out front-loaded equity awards barring extraordinary circumstances, adding a two-year holding requirement to Stephen Hemsley's $60 million stock option grant, and raising the CEO stock ownership requirement from 8x to 10x base salary. For 2026, The Accountability Board submitted a proposal requiring an independent board chair; the board opposed it and said it does not intend to keep the Chair and CEO roles combined indefinitely.
The full Databahn report connects investor demands to the programs management has funded in response.
Locations by territory
The 10-K lists principal executive offices in Eden Prairie, Minnesota and Washington, D.C.; Item 2 gives no facility counts. At the end of 2025, UnitedHealthcare Community & State participated in Medicaid programs in 32 states and the District of Columbia, including Medicaid expansion programs in 19 states. On the July call, Optum Health said it reaches nearly 90% of U.S. counties and conducts about 2.5 million rural patient home visits. Outside the U.S., most foreign income tax was paid in Ireland, and Banmédica, the remaining South American business, is held for sale. Territory reps can match their patch to where UnitedHealth Group operates.
The full Databahn report maps regional leadership to each territory.
What management told analysts
On July 16, 2026, management raised 2026 adjusted EPS guidance to $19.50 to $20.00, set UnitedHealthcare operating earnings at $12 billion or more and Optum Health at $2.2 billion or more, and guided the medical care ratio to 88.1%, plus or minus 25 basis points. They expect Medicare Advantage enrollment to fall about 1.1 million, Medicare margins above 3%, Medicaid margins of -1% to -1.7%, and commercial cost trend modestly above 11%, with commercial margin recovery running past 2027. The debt-to-capital target is about 40% by year-end. These are the numbers leadership will answer for on the next call.
The full Databahn report flags which commitments create near-term buying windows.
UnitedHealth Group FAQ
Who is the CEO of UnitedHealth Group?
Stephen Hemsley is Chair and Chief Executive Officer of UnitedHealth Group, CEO since May 2025. He was previously CEO from 2006 to 2017 and Non-Executive Chair from 2019 to 2025.
Who is UnitedHealth Group's CFO?
Wayne DeVeydt has been Chief Financial Officer since September 2025. He was previously a Managing Director at Bain Capital and, earlier, CFO of Elevance Health (formerly Anthem).
Who is on UnitedHealth Group's board of directors?
UnitedHealth Group has nine directors, elected at the June 1, 2026 annual meeting: Charles Baker, Timothy Flynn, Paul Garcia, Kristen Gil, Scott Gottlieb, M.D., Stephen Hemsley, F. William McNabb III, Valerie Montgomery Rice, M.D. and John Noseworthy, M.D. Hemsley is Chair and McNabb is Lead Independent Director.
How is UnitedHealth Group organized?
UnitedHealth Group runs two businesses, Optum and UnitedHealthcare, reported as four segments: Optum Health, Optum Insight, Optum Rx and UnitedHealthcare. UnitedHealthcare includes Employer & Individual, Medicare & Retirement, and Community & State.
What companies does UnitedHealth Group own?
Its main businesses are Optum, which includes Optum Health, Optum Insight, Optum Rx and Optum Financial with Optum Bank, and UnitedHealthcare. Optum Financial acquired Alegeus Technologies for $3.0 billion on July 2, 2026, and Banmédica in South America is being sold to Patria Investments for $1 billion.
Who oversees cybersecurity at UnitedHealth Group?
The Chief Security Officer and the Chief Digital and Technology Officer co-chair the Enterprise Security Council. The board's Audit and Finance Committee, chaired by Timothy Flynn, oversees cybersecurity, data protection and privacy.
Who is UnitedHealth Group's Chief Administrative Officer?
Jodee Kozlak joins as Chief Administrative Officer on September 28, 2026. The new role initially covers People, Real Estate, Procurement and Corporate Security.
How many people does UnitedHealthcare serve?
UnitedHealthcare served 48.5 million people in its medical businesses as of June 30, 2026, including 29.9 million commercial, 7.6 million Medicare Advantage and 6.8 million Medicaid members.
What's in the full Databahn report on UnitedHealth Group
- How to position against the incumbent vendor in your category
- Who to call first, with contact details for the executives on this page and the leaders the filings don't name
- The discovery questions that fit UnitedHealth Group's stated priorities and incentive metrics
- The questions UnitedHealth Group buyers are likely to ask you back
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