WellPoint CEO Angela Braly Makes Her Exit
Angela Braly, the president and CEO of giant WellPoint since 2007, has joined the ranks of the unemployed.
She resigned Tuesday after at least a month of intense media and shareholder scrutiny of her management of the huge health benefits company.
In a three-paragraph press statement released after the stock market closed Tuesday, the WellPoint board expressed confidence in the "wisdom of potentially transformative actions taken under Angela's leadership" while stating that "now is the right time for a leadership change."
For now John Cannon, WellPoint's executive vice president and general counsel, will run the company. He is not a candidate for the permanent position.
I've been thinking about Angela Braly's potential exit since WellPoint's second quarter earnings call on July 25. That's when Braly announced a reduction in the company's 2012 outlook based on lower enrollment and higher medical cost trends. WellPoint's second quarter 2012 profits dropped about 8% from the comparable period in 2011.