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WellPoint CEO Braly resigns

Bloomberg BusinessWeek, August 29, 2012

Angela Braly resigned as chairman and chief executive officer of WellPoint Inc. after recent criticism from shareholders who said the second-leading U.S. insurer was underperforming. The shares rose. John Cannon, the company's executive vice president and general counsel, will serve as interim CEO while WellPoint searches for a replacement, the Indianapolis-based insurer said today in a statement. Cannon isn't a candidate for the permanent job, according to the statement. During her five-year tenure, Braly, 51, made herself a foe of the health-care overhaul and, more recently, of investors after WellPoint missed earnings estimates and cut its forecast twice in four months.