UnitedHealth CFO Wichmann takes president title as team shuffles

David Wichmann has been named president of UnitedHealth Group Inc.

(Reuters) — UnitedHealth Group Inc. on Wednesday said Chief Financial Officer David Wichmann will become president effective immediately, reporting to Chief Executive Stephen Hemsley.

Gail Boudreaux, who has been CEO of its UnitedHealthcare unit during a time when the national health care reform law has created massive changes in the industry, is leaving the company.

Mr. Hemsley, who will no longer have the president title, will continue to oversee all businesses including the health insurance operations and its Optum technology and health care services business. Mr. Wichmann will transition out of his CFO post during the next 12 to 18 months, UnitedHealth said.

Larry Renfro, who is chief executive of Optum, will take on more UnitedHealth Group responsibilities.

Dirk McMahon, chief operating officer of Optum and chief executive of pharmacy benefits division OptumRx, will become vice president of operations for UnitedHealth Group, reporting to Mr. Wichmann.