UnitedHealth Group brings in outsider as new chief financial officer

UnitedHealth Group is bringing in an outsider as its new chief financial officer following months of unprecedented financial challenges at the nation’s largest health care company.

Wayne DeVeydt, 55, has been serving since 2022 as managing director of Bain Capital, a prominent private equity firm based in Boston.

He becomes CFO at the Eden Prairie-based health care giant effective Sept. 2. DeVeydt will take over for John Rex, who has served as chief financial officer at UnitedHealth since 2016. Rex will become a strategic advisor to chief executive Stephen Hemsley.

UnitedHealth Group’s massive health insurance business announced this week it would drop Medicare Advantage health plans covering more than 600,000 people as one of several strategies to shore up finances.

This is a developing story. Check back for updates.

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