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

Stephen J. Hemsley was appointed as the new CEO effective immediately after Andrew Witty decided to step down as CEO for unspecified "personal reasons," according to NBC News.

UnitedHealth Group Inc.’s new Chief Executive Officer Stephen Hemsley will receive $1 million in annual base salary as well as a one-time $60 million equity award as he returns to helm the beleaguered insurer.