Optum recruits its second financial director in 6 months

Diving brief:

• Optum has named its second CFO in less than six months, confirming to Healthcare Dive that Ben Eklo, the company’s longtime CFO, is taking over.
• Eklo replaces Roger Connor, who was named Optum CFO in May, effective Nov. 1, a spokesperson said.
• It’s the latest leadership shakeup at Optum’s parent company, UnitedHealth, which has experienced acute operational, regulatory and public relations challenges this year.

Dive overview:

Connor is leaving Optum to return to the United Kingdom to spend more time with his family, according to an internal memo reviewed by Bloomberg. Eklo, who has been with UnitedHealth for nearly two decades, will become CFO in his place.

“This change reflects our broad commitment to best-in-class execution across the enterprise, which will help drive improved performance in the years to come,” the UnitedHealth spokesperson said.

As Optum’s CFO, Eklo will manage the finances of a division larger than most standalone companies, with annual revenue of more than $250 billion.

Optum includes UnitedHealth’s massive pharmacy benefits business, provider network, data and technology assets, and much more. The subsidiary is one of UnitedHealth’s two main reporting divisions, yet accounts for more than half of its total operating income.

Eklo’s appointment is the latest in a series of leadership changes this year as UnitedHealth tries to shore up investor confidence amid a series of recent crises, including a massive cyberattack, the killing of a top insurance executive and rising medical costs in its insurance business.

In April, UnitedHealth lowered its 2025 outlook and underperformed its profit targets for the first time in more than a decade. A month later, CEO Andrew Witty abruptly resigned and was replaced by Stephen Hemsley, chairman of UnitedHealth’s board of directors and former CEO.

Since then, Hemsley has named a new CFO and replaced executives at care delivery unit Optum Health, data and analytics arm Optum Insight and payer business UnitedHealthcare.

The CEO also pledged to increase public transparency and accountability, forming a new board committee to oversee these efforts.

The changes should still reassure investors. UnitedHealth stock has recovered somewhat since the spring, but is still down more than 28% year to date. Some shareholders also worry about a loss of oversight with Hemsley holding top board and management positions.

UnitedHealth is expected to report third-quarter results before the market opens on October 28.