UnitedHealth Hires Bain Capital’s Wayne DeVeydt as New CFO (2)

UnitedHealth Group Inc. appointed Wayne DeVeydt to become its chief financial officer, replacing longtime finance chief John Rex.

DeVeydt, most recently a managing director and operating partner at Bain Capital, will take the role starting Sept. 2, the company said in a statement. Rex will become a strategic adviser to Chief Executive Officer Stephen Hemsley.

Hemsley has been revamping the health-care conglomerate’s management ranks since retaking the helm two months ago. UnitedHealth is looking to rebuild credibility with investors after disappointing earnings, a series of federal probes and a deteriorating profit outlook cut its stock price by ...