Former CEO Steve Hemsley is still on the UnitedHealth Group board of directors and he has the most influence. This includes board approval over annual company reimbursement budgets. While CEO, his only goal was always to reduce, reduce, reduce resources. Now he sits on the board trying anything he wants in order to fund his family's historic home pet project in the New England area (public information out there about the Hemsley historic home trust). You should ask senior leaders why are they only selling stock and never buying? If they have so much faith in the company, what gives, perhaps greed? The true way bonus dollars are funded is hidden. 2023 sales were achieved at much higher level than 55% of the goal which is about what the budget was set at. How could the company have beat analyst's expectations for revenue if things were so bad to require such a reduction compared to last years funding? Mr Hemsley is known as "intelligently ruthless" and he now apparently has an outsized grip on Andrew Witty. Steve is a person nobody will challenge, nobody ever did. Of course one single person doesnt have all the right answers in any situation, but the organization treats Steve as if he does. FYI, word is that leaders will not get any increase in base pay this year. so that is something small done right.
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Last time I read, Hemsley owned 7 homes.
I don't think there will be a 'talking point'. What's been done has been done, and it's up to the individual to interpret it and how to handle it. It would not be surprising for this treatment to become a common thing, and maybe not only for UHG/Optum.
With these actions, UHG/Optum has plainly said they want people to leave without having to pay them to do so. With the gain in revenue and money made over the last year, how is there any other way to look at it?
only the very highest leaders are on contract basis. Rarely are supervisors and low level managers awarded stock options. That practice was all but eliminated under Steve Hemsley a number of years ago.
So that's going to be the talking point.
The leaders aren't getting a raise this year. Your funny!!!!!
But aren't they all on contract(s). They'll be well compensated in Bonus's and Stock Options.